The Workers' Provident Fund Organization has simplified the procedure of withdrawing and transferring Provident Fund (PF) swift and painless (EPFO). According to the announcement made by the Central Provident Fund Commissioner on September 20, 2019, an employee is no longer required to submit a transfer request or withdraw the accrued PF money while changing jobs.
When the new employee provides certain crucial information, it is automatically transmitted from the old to the new employer. The new employer has posted these particulars on the EPFO's official website. Upon receiving the first transfer from the new employer, the new PF account is activated.
Procedure:
Online:
Following these easy steps will allow you to withdraw your EPF:
Visit the UAN portal and fill out the Captcha that appears on the screen after entering your UAN and registered password.
To make sure that the registered personal details, such as the PAN card number, number, bank details, etc., are correct and confirmed, select the "Manage" option and then click on the "KYC" page.
Then move your pointer to the "Online Services" tab and select "Claim" from the dropdown menu.
You can view your KYC and other personal information.
Choose "Proceed for Online Claim" from the menu.
On the "I Wish to Apply For" section, choose the EPF withdrawal option. If you are not able to see the EPF withdrawal option, you are not qualified for it.
Offline:
The member must complete out Form 13 and send it to their present employer in order to transfer their EPF funds using the offline channel.
The same is forwarded and submitted to the EPF office by the current employer. The EPF office sends the application for attestation and verification to the applicant's former employer.
The EPF office moves the balance from the prior EPF account to the new EPF account after receiving a confirmed and attested copy of the receipt from the previous employer.
The applicant does not have to provide their UAN or Aadhar card number for the offline PF transfer option.
Processing an EPF withdrawal request submitted in the offline form can take anywhere between 20 and 30 days. NEFT is used to transfer the EPF amount regardless of whether the claim was submitted online or offline. Once the NEFT date that is listed on the EPF website, the NEFT process is finished in 2 to 3 days.
Documents Needed:
The paperwork needed for the withdrawal procedure depends on the justification for the claim:
Real estate declaration and registration certificate when buying a home
Loan repayment: Certificate from the lending institution detailing any outstanding principle and interest
Cash advances - Current employer certification
· medical issues - A doctor's and employer's certification
Marriage - Claim Form 31 Declaration
Physical disability treatment - Certificate from the consulting physician
withdrawal before to retirement: Member's declaration
EPF may be withdrawn under the following circumstances:
Upon retiring
When you have been jobless for longer than two months. You must obtain an attestation from a gazetted office in order to make the withdrawal.
A number of the regulations governing withdrawals from the Provident Fund (PF) account have been updated by the Workers' Provident Fund Organization (EPFO) for 2022. These adjustments are made to make it easier for subscribers who are having financial difficulties due to the corona virus outbreak to access their PF funds.
According to the new laws, holders of PF accounts may withdraw up to 75% of their net PF or EPF account balance or, in the event that this amount is less, three months' worth of their basic pay plus dearness allowance. We'll consider this to be a non-refundable deposit. You can file these withdrawal claims online. Online claims must be resolved in 3 working days; however offline claims may take up to 20 days to be settled.
Lawyers in noida can be appointed if the organization is situated in Noida. Moreover, advocates in Mumbai can be appointed if the organization is situated in Mumbai. If the organization is situated in Delhi then lawyers in Delhi can be appointed.
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