How to Withdraw PF Amount - Online PF Withdrawal Process

A provident fund (PF) is a retirement and savings scheme designed to provide financial security to employees. It is backed by the Indian government. Employees often withdraw their money from this account through online methods. Earlier, employees used to withdraw money via EPF withdrawal, but now this process is handled by the Employees' Provident Fund Organisation (EPFO). Eligible employees need to submit their claims online without visiting the EPFO office. Employees need to keep some important documents ready and link their accounts with their Universal Account Number (UAN).

Key takeaways 

• Your Universal Account Number (UAN) must be activated to apply for online PF withdrawal.
   
• Aadhaar, PAN, and bank account details should be linked and verified with your UAN.
   
• You can withdraw PF after retirement, unemployment, or under specific conditions allowed by EPFO.
   
• The online PF withdrawal process is faster and eliminates the need to visit the EPFO office.
   
• Once approved, the PF amount is credited directly to the registered bank account. 

What is PF withdrawal?

Salaried employees and their employers contribute some amount of money to one account for the financial security of the employee. That employee can withdraw this money anytime. If you also have a PF account and want to withdraw this money online. You can withdraw this money via online and offline modes, but the first one will be the easiest way. There are two online methods: the EPFO Member Portal and the UMANG App. It is used by employees to withdraw money from PF accounts. 

For example: 

Let's look at this example: Nitin worked in a company for 6 years and had ₹4,80,000 in his Provident  Fund (PF) account. Due to an emergency, he had to take a break from his job, so he resigned. But he needed money in between. After 2 months, he decided to withdraw from the PF. Then he applied through the EPFO portal. After verification, ₹4,80,000 was transferred to his bank account. This is how you can withdraw money from PF. 

What things should you keep in mind while applying for PF withdrawal?

Withdrawing money from a PF account is a time-consuming process. You need to keep some Can Yount documents ready. So, before starting the claim, make sure these details are ready and correct:

• UAN is active.
• Aadhaar is linked with UAN.
• PAN is linked if you want full taxable claim processing to be smoother.
• Bank account number and IFSC are updated in the EPFO records.
• The mobile number linked with Aadhaar is active for OTP.
• The date of exit is updated in the PF account if you have left the job. 

Because you are withdrawing your money from an account via online mode, these PF claims are verified through KYC and OTP based authentication. 

When Can You Withdraw PF?

Actually, it depends on the employee. He can withdraw his money whenever he/she wants. But most employees withdraw this money due to specific reasons like

Job loss, retirement, or when they become qualified due to partial withdrawal reasons like medical need, education, house, you can also use other allowed EPF advance purposes.

Read More - EPF Withdrawal Limit, Rules & Process Explained
 

What are the types of PF Withdrawal?

You can withdraw your money from a PF account anytime, and how much you want to withdraw is your choice. EPFO gives you three options by which you can withdraw money. 

1. Complete PF withdrawal 

If you are unemployed for a certain time, you can easily withdraw your PF. 

If you are unemployed for more than one month, you can withdraw up to 75% of your EPF balance. And if after two months you are still unemployed, you can withdraw up to that 25% too. After retirement, you can also withdraw 100% of your money. 

So, if you want to withdraw PF after leaving your previous job, you need to be unemployed for at least 2 months. 

2. Partial PF Withdrawal (PF Advance)

If you don't want to withdraw all your money, you can simply withdraw partially.  You can withdraw it even when you are employed, when you want money for marriage, education, or medical treatment. EPF allows you to withdraw. If you want to buy a house, you can withdraw upto 90% of the balance. For house renovation, you can withdraw up to your 12 months' salary. 

3. Pension Withdrawal Rules

That means, if you are working in a company for less than 6 months, then pension withdrawal is generally not allowed. If your service time is between 6 months and 10 years, you can withdraw money by using Form 10C. And if you have been working for more than 10 years, you can not withdraw a lump sum amount. You become eligible for a monthly pension after retirement.

Online PF withdrawal process step-by-step.

Are you someone who wants to withdraw money from a PF account? If yes, follow the steps below.

Step 1: Go to the EPFO member portal and log in using your UAN and password. 

Step 2: Then open the Online Services section and click on Claim (Form 31, 19 & 10C).

Step 3: You need to enter your bank account number and verify it. 

Step 4: Check whether your bank details and IFSC are correct before continuing.

Step 5: Select the claim type based on your need, such as full PF settlement, pension withdrawal, or partial advance.

Step 6: Fill in the required details and confirm your current address..

Step 7: Accept the declaration, request OTP, and submit the claim after Aadhaar OTP verification.

Now the system is designed to be paperless. That means you don't need to carry all your documents everywhere. If you are applying online. Everything becomes easy. 

What documents are required for PF?

For online PF withdrawal, the usual documents are:
 

• UAN number.
• Aadhaar card.
• PAN card.
• Bank passbook copy or bank account details with IFSC.
• Registered mobile number linked to Aadhaar.

These documents are necessary when you go for a PF withdrawal. One more important thing is that you have to update the employment exit date if it is applicable. The main verification happens through KYC data already stored in EPFO records.

Form you will use in PF withdrawal: 

When you go for a PF withdrawal, you use different forms. Filling these forms depends on what you are withdrawing.