Want To Make EPF Withdrawal Due To COVID? Check Rules, Conditions, TDS Rates & Procedure Here

Do you want to make an EPF withdrawal due to COVID-19 in order to satisfy your financial needs? If 'Yes' then feel free to read further. If you are an EPF account holder and want to make withdrawal as a non-refundable advance (earlier one-time advance was available) from your PF account, you can submit your claim application regarding the same from the convenience of your workplace or home as the Employees' Provident Fund Organisation (EPFO) has recently revised the Provident Fund (PF) withdrawal regulations. EPF withdrawals can be made online at the Employees' Provident Fund Organisation (EPFO) website. So, read on to learn about the regulations, conditions, and procedure for withdrawal as a non-refundable advance.

Rules to make PF withdrawal as a non-refundable advance

The PF withdrawal regulation for non-refundable advance for EPFO subscribers affected by the second surge of the Covid-19 epidemic. According to the new regulation, an EPFO subscriber is allowed for a PF withdrawal of three months' basic salary + Dearness Allowance (DA), or 75% of the gross PF amount, whichever is lower. The non-refundable PF advance is also accessible to EPFO subscribers who used this service during the initial or first wave of the Coronavirus outbreak. Under EPFO's revised withdrawal guidelines, online PF withdrawal claims can be completed in 3 days, whereas offline PF withdrawal claims might take up to 20 days. This EPFO claim settlement time will undoubtedly aid subscribers in meeting their financial obligations more quickly.  

Conditions to make PF withdrawal as a non-refundable advance

PF withdrawal as a non-refundable advance can be done both online and offline. However, in order to make a withdrawal online, a member must meet certain conditions, which are as follows:

• The bank account of the member must be linked with UAN
• To avail any EPFO services, your Aadhaar number must be linked to your UAN.
• Your UAN number must be activated
• The IFSC Code of Andhra Bank, Oriental Bank of Commerce, Allahabad Bank, Syndicate Bank, United Bank of India, and Corporation Bank were invalid on April 1, 2021. As a result, members of these banks must get the relevant IFSC before they file an online claim. To fill out the online claim, you must obtain the relevant IFSC from your bank and have the details uploaded and confirmed.
• If the EPF balance is withdrawn before 5 years of service, TDS is deducted at a rate of 10%. You must provide your PAN while making a withdrawal. TDS will be deducted at the highest slab rate of 30% if PAN is not furnished. TDS is not deducted if the withdrawal amount is less than Rs 50,000. To avoid TDS, you can submit Form 15G/Form 15H.

Steps to make EPF withdrawal online

To make PF withdrawal as a non-refundable advance, follow the steps listed below:

• Visit https://unifiedportal-mem.epfindia.gov.in/memberinterface/ and sign in to your account using UAN, password and captcha code.
• Now head to the 'Online services' section and select claim Form -31, 19,10C and 10D.
• You will be now redirected to the next page where your name, date of birth, and the last four digits of your Aadhaar number will appear.
• Now enter your bank account number and click on 'Verify'.
• Now a pop-up window will appear on your screen, which will ask you to provide a 'Certificate of undertaking.'
• Click on the 'Proceed for online claim' button upon successful verification of your bank account.
• Now select 'PF advance (Form 31)' from the drop-down menu and select the withdrawal claim as 'Outbreak of pandemic (COVID-19)'.
• Now enter the amount that you want to withdraw and enter your address and upload the scanned copy of cheque.
• Now you will get an OTP on your Aadhaar linked mobile number.
• Enter the OTP on the required space and click on submit or verify.
• Your claim application will be submitted upon successful verification of OTP.
• The withdrawal amount will be credited to your registered bank account if your request is accepted by the EPFO.