Step by step guide to withdraw EPF

Employee Provident Fund (EPF) is a mandatory savings scheme that is designed to provide financial security to employees after their retirement. However, there are circumstances when employees can withdraw funds before retirement. Individuals willing to withdraw EPF must note that withdrawal is possible both partially and fully. Similarly, you can choose to withdraw the amount through an offline or online mode. Partial EPF withdrawal can be made under certain circumstances. On the other hand, complete withdrawal is allowed for retiring persons or individuals with two months of unemployment.

In this blog post, you will get step by step approach to withdrawing your EPF.

1st - Checking eligibility: 

• Leaving Your Job

If you have quit your job, you are eligible to withdraw your EPF. However, you need to wait for a certain period before you can withdraw your funds. The waiting period is currently 2 months from the last date of employment.

• Retirement

If you have reached the age of 58 years, you are eligible to withdraw your EPF. However, if you want to continue working, you can choose to keep your EPF account active and withdraw the funds when you retire.

• Disability

If you suffer from a disability that makes you unable to work, you can withdraw your EPF. You will need to provide medical proof of your disability along with the withdrawal form.

• Medical Treatment

If you need funds for your medical treatment or the treatment of your family members, you can withdraw your EPF. You will need to provide a medical certificate along with the withdrawal form.

• Education

If you want to withdraw funds for the education of yourself, your spouse, or your children, you can do so. You will need to provide the relevant documents such as an admission letter, fee receipt, etc.

• Marriage

If you want to withdraw funds for your marriage or the marriage of your children, you can do so. You will need to provide the relevant documents such as the wedding card, marriage certificate, etc.

• House Purchase

If you want to withdraw funds for the purchase of a house, you can do so. You will need to provide the relevant documents such as the sale deed, agreement of sale, etc.

2nd - Making an online application

The Employees' Provident Fund Organisation (EPFO) has introduced an online procedure for the withdrawal of Employee Provident Fund (EPF) to make the process faster and more convenient for employees. In this blog post, we will take a closer look at the steps involved in the online procedure for withdrawing EPF.

Step 1: Register on the EPFO Portal

The first step to withdrawing your EPF online is to register on the EPFO portal. You can register by visiting the official website of the EPFO and clicking on the 'Register' button. You will need to provide your personal details such as name, date of birth, mobile number, email address, and Aadhaar number.

Step 2: Activate Your UAN

Once you have registered on the EPFO portal, you need to activate your Universal Account Number (UAN). You can activate your UAN by clicking on the 'Activate UAN' button and entering your UAN, mobile number, and member ID.

Step 3: Login to the EPFO Portal

After activating your UAN, you can login to the EPFO portal using your UAN and password. Once you have logged in, you can access the 'Online Services' section and click on the 'Claim (Form-31, 19 & 10C)' option.

Step 4: Fill out the Form

You will be redirected to a page where you can fill out the online withdrawal form. You need to provide your personal and employment details, including your name, date of birth, EPF account number, and the reason for withdrawal. You can also select the mode of payment and provide your bank account details.

Step 5: Upload Documents

You will also need to upload the relevant documents such as a cancelled cheque or a bank statement. The EPFO will verify the documents and process your withdrawal request.

Step 6: Track the Status of Your Claim

You can track the status of your claim by logging in to the EPFO portal and clicking on the 'Track Claim Status' option. You will be able to see the progress of your claim and the expected date of payment.

Step 7: Receive the Funds

Once the EPFO has processed your withdrawal request, the amount will be transferred to your bank account that is linked to your EPF account.

It's important to note that the online procedure for the withdrawal of EPF is faster and more convenient compared to the offline procedure. However, you need to ensure that your UAN is linked to your Aadhaar number and bank account to complete the online withdrawal process successfully.

I will be posting the same information on LinkedIn and Medium for better reach. You can plan your investments once you receive these funds. For one-to-one discussion, schedule an appointment

I am a Chartered Accountant. Ex-PwC, Ex-ACC.

Tejas Lakhani