The Employees' Provident Fund Organisation (EPFO) has brought significant relief to millions. Of its members by simplifying the process of Provident Fund (PF) withdrawal. Now, PF account holders can easily withdraw their funds from the comfort of their. Homes using their mobile phones or laptops, eliminating the need to visit any office. This change is particularly beneficial for salaried individuals with an active PF account.
New Rules for EPFO Withdrawal
EPFO has introduced crucial changes to its PF withdrawal regulations. Under the revised rules, if an employee loses their job,. They can now withdraw 75% of their PF balance immediately. The remaining 25% can only be withdrawn if the individual remains unemployed for a continuous period of 12 months. Previously, full PF withdrawal was permitted after two months of job separation, but this timeframe has now been extended, while according to the Ministry of Labour, these changes aim to enhance employees' financial security, discourage frequent withdrawals that create service gaps, and ensure sufficient funds are available at the time of retirement.
Easy Step-by-Step Process for Full EPFO Withdrawal
To withdraw your full PF amount online, follow these simple steps without needing any agent:
1. Visit the official EPFO website and log in to your account using your Universal Account Number (UAN) and password.
2. Navigate to the ‘Online Services’ tab on your dashboard and select the ‘Claim (Form-31, 19, 10C)’ option.
3. A form will appear with your basic details pre-filled. Enter your bank account number and accept the terms and conditions.
4. You will see your last employment details and 'Date of Exit'. Click on 'Proceed for Online Claim'.
5. In the 'I want to apply for' section, choose Form 19 to initiate a full PF amount withdrawal.
6. If your withdrawal amount exceeds ₹50,000 and you wish to avoid Tax Deducted at Source (TDS), upload Form 15G.
8. Click 'Get Aadhaar OTP', enter the OTP for verification, and submit the form.
7. Enter the address as per your Aadhaar card and upload a scanned copy of a cancelled cheque if required.
After successful submission, the amount is typically transferred directly to your bank account within 7 to 10 working days.
Important Points to Remember:
Ensure your UAN is linked with your Aadhaar, and your bank account details are updated on the EPFO portal. Any incorrect information may lead to the rejection of your claim.
