How to Withdraw EPF Corpus after Resignation or When Jobless?

The EPF is a programme that allows you to build up your retirement fund. The company and employee each make an equal contribution to the plan. According to the Employees' Provident Fund (EPF) Act, a person must resign from employment after turning 58 in order to receive his or her final provident fund (PF) payment. The employee's contribution, the employer's contribution, and any interest that has accumulated are all included in the overall EPF amount.

But what if someone makes the decision to leave his employment before turning 58? According to the current law, employees who leave their jobs before turning 58 can withdraw their whole PF balance if they find work for two months or more after doing so. In this post, you will learn the procedure of EPF withdrawal after resignation or when jobless..

Conditions for EPF Corpus Withdrawal

For the withdrawal process to start successfully, the following conditions must be satisfied.

• Employee and Employer contributions should be current in terms of the latter's regular remittances. To find out the balance and employer contributions, you can check your EPF balance online.
• To avoid problems when the subscriber withdraws, personal information should be current.
• The subscriber (Employee) must hold off on filing the pertinent claim forms for at least two months after the last official working day.
• Other terms disclosed by your employer prior to your departure from the organisation or at the time of PF withdrawal.

Documentation required for EPF withdrawl

Since the halt in EPF payments is regarded as an indication of unemployment, EPF account holders are also not permitted to submit any unemployment-related documents to the EPFO in order to withdraw the money. The benefit of not withdrawing the full amount is that your membership in the PF account is maintained, enabling you to transfer the balance that is left to a new company. You can also take a pension at retirement if your account is still open.

How to make a withdrawal from an EPF account online?

• Making a withdrawal request for PF is now quite simple. On the EPFO portal, you can submit a withdrawal claim using your UAN. Verify that the bank information and KYC papers have been updated on the PF portal, and that the UAN has been activated.
• Step 1: Enter your UAN and password to access the EPFO's unified portal.
• Step 2: From the drop-down menu on the "Our Services" tab, choose "Claim."
• Step 3: In the "I Want to Apply For" area, you can submit one of three types of withdrawal claims: a full withdrawal, a partial withdrawal, or a pension withdrawal. Only if you qualify will the drop-down box with the withdrawal type options be shown.
• Step 4: Following approval, the PF amount will be credited immediately to your bank account.

How to make a withdrawal from an EPF account offline?

EPF withdrawal without using aadhaar card-

If you want to withdraw money without using your Aadhaar card number but have your PF number instead, utilise the Composite Claim Form (Non-Aadhaar). Keep in mind that you must visit your local EPFO office to submit the properly completed form and your bank account's cancelled check. You are not necessary to send any supporting documentation with the form, as stated by the instructions on the form.

If your total service time is less than five years, you must provide a Permanent Account Number (PAN) and, if necessary, two copies of Form 15G/15H. You can only mention the PF account number if the UAN is unavailable.

EPF withdrawal without using aadhaar card-

If your UAN and Aadhaar are already connected, you can submit your withdrawal request via the Member e-Sewa Portal or by going in person to your local EPFO office with a properly filled out copy of this composite form. Keep in mind that before you can access your account on the EPFO portal, your UAN must be activated.

If you intend to visit the EPFO office to submit the properly filled form, make sure that your employer has received all of the information from Form 11 (New), that the UAN has been active, and that your Aadhaar card number and bank account information are both included on the UAN portal.