As an employee working in India, most organizations offer the Provident Fund (PF) to their employees. The PF serves as a retirement saving scheme backed by the government of India. Every month, a share from your salary is deducted towards PF, and even the employer has to put their share of contribution. You also earn a fixed interest on the total amount of money. Now, after you quit your job, you can transfer it to the new company. You can also go for PF withdrawal if you want to withdraw the money.
Earlier, for PF withdrawal, you were required to fill the forms and submit a set of documents. However, today, you can log in to the EPFO website, and in just a few clicks, apply for PF withdrawal. Here’s how to go about it.
Prerequisites for PF withdrawal
Before you go ahead and apply for PF withdrawal, you need to know your UAN (Universal Account Number). You can get your UAN from your salary slip. Next, if you’re doing this for the first time, you need to visit the eSewa Portal here and activate your UAN.
To activate your UAN, your mobile number should also be linked with the UAN as you will get an OTP for authentication. Your Aadhaar number should also be connected to the PF account. If not, then you will need to click on the ‘Manage’ tab followed by KYC after logging in.
Also, before you can withdraw your provident fund, you will need to add details such as your bank name, account number, and IFSC code. This will ensure that the PF withdrawal amount will directly get credited in your bank account.
Here, you will need to enter the last four digits of your bank account number to verify. At the bottom, click on ‘Proceed for Online Claim’ after which you will be redirected to the claims page.
Next, you need to choose the type of claim under ‘I want to apply for’ tab – withdraw PF only or withdraw pension only. In case you are not eligible for any criteria, the option will not show up in the drop-down list.
After selecting the relevant claim, you will see a specific form. Fill in your details, and then authenticate using Aadhaar OTP to complete the PF withdrawal claim submission. You will also get the claim form copy in PDF format, save it.
The process usually takes about 20-30 days, after which the amount is credited in your linked bank account. You can also head over to Member e-Sewa page, click on ‘Online Services’ followed by ‘Track Claim Status’ to see the status of your PF withdrawal claim.