To withdraw the funds in the EPF account, the PF withdrawal forms need to be filed. After filing these forms, the funds in the account will be available to the account holder. Let’s read about the various that need to be filed for withdrawal of PF funds.
The Employee Provident Fund takes a small contribution from the employee’s monthly salary and the same amount from the employer’s. The contribution is considered as benefit to the employee at the time of retirement. The remuneration contributed is at the rate of 12% of the basic pay. However, EPF withdrawal can be done even when employed. Not long ago, the EPFO had launched new simplified forms for withdrawal/transfer of PF Funds. Let’s know more about the forms and understand them in detail. Also, the Ministry of Labour and Employment has made it easy at the time of transfer/withdrawal of PF by providing a feature of claiming PF amount without Employer’s attestation. This benefit is provided to reduce difficulty on employee’s end. The following conditions must be satisfied:
This form is used at the time of retirement or when leaving the job. An important condition that must be satisfied under this form is that the employee must be unemployed for at least 2 months, for the PF account to be transferred from previous organisation to the present organisation. The following details are required to fill this form:
This form is submitted along with Form 19/20. It is a settlement of withdrawal of Old Family Pension Fund.
From 10C: Used for claiming PF withdrawal benefits.
The following details are required to fill Form 10C & Form 10D:
This form is used in case the employee wants to withdraw partial amount of PF. There are different situations where the employee wants to withdraw partial amount. This form is known as PF advance Form and is used in the following situations;
A detailed description will need to be shown at the time of retirement. It’s also important to maintain a certain amount in the PF account. Withdrawal can be made with the documents listed below for each kind of life situation:
|2.||Education||Bonafide Certificate from educational institution|
|3.||Physically handicapped||Doctor’s certificate|
|4.||Purchase of flat/construction of house
|Copy of purchase agreement|
|5.||Repayment of Loan||Loan sanctioned documents|
|6.||Medical conditions||Certificate from registered medical physician, specialist, ESI facility|
|7.||Electricity Bills||Statement from state Government|
|8.||Natural calamities||Certificate from concerned authority|
|9.||Alteration/Repair of house||Proof to such cause|
The following are the details required at the time of filling Form 31:
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