The Employees’ Provident Fund Organisation (EPFO) allows you to contribute a portion of your basic salary towards a provident fund. Both you and your employer contribute 12% of your basic pay. Of your employer’s contribution, 8.33% goes to the Employees' Pension Scheme (EPS), and 3.67% goes to the provident fund, while your entire 12% contribution does towards your provident fund, which gives you social and financial security after retirement.
The EPFO also allows for a partial or full withdrawal of the funds before you retire in certain circumstances. For instance, in case you lose your job, you can withdraw all of your EPF corpus after 60 days of unemployment, provided you haven't joined a new employer. All you need to do is submit Form 19 for the final settlement of your EPF account.
Additionally, if you are still employed, you can still withdraw up to 75 percent of your PF balance, under certain conditions.
According to EPFO, it typically takes around 20 days to process an EPF claim and transfer the amount. If the amount isn't received within this time, you may contact the regional PF commissioner or file a complaint on the EPFO website.
Claims for withdrawal or transfer can be submitted online or offline. You can also check your claim status online, either through the UAN portal or on the EPFO website.
Eligibility for EPF Withdrawal:
- Full (100 percent) EPF corpus can be withdrawn upon retirement. Early retirement does not qualify.
- In case of unemployment, you can claim up to 75 percent of your EPF corpus.
- After two months of unemployment, full withdrawal (100 percent) of the EPF deposit is allowed.
- You can check the status of their EPF claims using:
- The UAN Member Portal
- The EPF Website
- The Umang App
Q: What claim forms can I file directly through the UAN member interface?
A: You can apply for:
- PF Final Settlement (Form 19)
- Pension Withdrawal Benefit (Form 10-C)
- PF Part Withdrawal (Form 31)
A: You must meet the following criteria:
- The UAN must be activated, and the mobile number used for UAN activation should be active.
- AADHAAR details must be updated in the EPFO database, and the member should use OTP verification for eKYC while submitting the claim.
- The bank account and IFSC code must be updated in the EPFO database.
- PAN details must be provided for PF Final Settlement if the member has less than 5 years of service.
A: The following service conditions must be met:
- The Date of Joining and Date of Exit should be available in the EPFO database.
- The member should not currently be employed under an establishment covered by the PF Act.
- The claim can only be submitted two months after leaving the establishment.
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