Employees provident fund amount is withdrawn or transferred at the time of changing jobs. The EPFO has taken measures to simplify the process of PF withdrawal. This post will show you how you can withdraw your PF money with minimum hassle. Follow the information and you can easily carry out the procedure of EPF withdrawal. The improvement in the procedure also enable employees to withdraw PF without help of his/her employer. You can now independently handle the process of your PF withdrawal.
As per EPFO, if an employee provides details like aadhar card. And if employee’s bank account is linked to his UAN, then an employee can just approach EPF for withdrawal using his UAN. UAN remains same regardless of the company where you work. If you have UAN and your employer has done the ‘know your customer’ verification, it becomes easy to withdraw PF.
Simplified EPF Withdrawal Forms
EPFO has simplified the PF withdrawal forms by introducing brief forms. The forms are made one page instead of 3-4 pages form. Unlike before, only 5 to 6 kinds of information are required in the form. The main motive behind simplifying EPF withdrawal procedure is to enable employee to withdraw directly instead of through the employer.
If an employee has UAN, the employer does the verification of the KYC details of an employee. For withdrawal purpose, an employee needs to link the UAN number with his bank account and aadhar. If you know your UAN, you can visit EPFO’s website to activate it. You can also verify your KYC details by uploading your digital signature. Fill in your bank account details as well aadhar number. The PF account is comprised of provident fund and pension scheme. It is the employer’s contribution that is contributed to EPF as well EPS. Employee’s contribution goes to the EPF only. If you want to withdraw your pension, fill up the form 19 and form 10C.
The PF withdrawal form can be easily downloaded from the official website of EPFO. Visit the download section and select the form applicable for withdrawal purpose.