Employees’ Provident Fund (EPF) and Employees Pension Fund (EPS) withdrawal is a real pain for most of the subscribers. But now online withdrawal of Employees’ Provident Fund and Employees Pension Fund is possible and is made real easy.
Online withdrawal of Employees’ Provident Fund and Employees Pension Fund helps Individual to settle claims without having to wait for the respective Employer to initiate the process. The online settlement of claim is made possible through EPF unified portal which was recently launched by EPFO. Even Claim Transfer while switching jobs is also possible through the Subscriber portal.
*The facility for online withdrawal has been launched and it is completely functional. The EPFO has also shortened the timeline for settlement of claims from 20 days to 10 days.
Subscribers through the new Unified Portal may apply for Provident Fund (PF) final settlement (Form 19), Withdrawal of Pension Benefit (Form 10-C), PF Partial Withdrawal (Form 31). Users have to activate their UAN and after logging into their respective account they may apply for withdrawal. However, some guidelines have been laid out for the online withdrawal. The new system not only saves time, but removes the painstaking task of interacting with the intermediaries such as Employer and Regional EPFO office.
Requirements for Submission of Claims Online:
Activation of UAN: Unique Account Number (UAN) needs to be activated on the Unified EPF portal.
Link Mobile Number: Subscribers are also required to link their valid mobile number with the UAN so that they may complete validation of the claim.
Seeding of Aadhaar ID: Once the Subscriber has logged into the portal, he/she requires to submit the Aadhaar ID as part of the KYC documentation which will be approved upon verification.
Bank Account Linking: Subscribers also need to link their Bank Account with the UAN for the settlement of claims. The Bank Account Number along with the IFSC Code should be provided for the transfer of fund into the subscribers account.
Permanent Account Number (PAN) Submission: PAN is also required to be submitted for the settlement of claims in the KYC Section of the Subscribers’ Interface on the portal.
Once the above mentioned document has been submitted and verified by EPFO, Subscribers may apply for the claim.