If you are planning to withdraw money from your EPF account, you can apply for an online claim. Prior to doing so, make sure that you have activated your Universal Account Number (UAN) and the phone number linked to UAN is functional.
Besides, you should ensure that you have seeded relevant details in the EPFO database so that the claim goes through. These details are as follows: Aadhaar, bank account number along with IFSC details and PAN.
There are a number of other key details that you should be aware of. We reproduce some of the details here:
How can one do online claim settlement?
In order to do online claim settlement, subscribers have to fill the requisite form. There is form 19 for PF Final Settlement and form 31 for PF Part Withdrawal.
What are the service conditions that need to be met for the online claims?
I. For final settlement:
A. Date of joining and date of exit should be available in the EPFO database.
B. Subscriber should not be working in any establishment covered under the PF Act
C. Two months have passed since the subscriber left the last organisation.
II. For partial withdrawal (advance cases):
Member’s date of joining should be available in the EPFO database.
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What are the conditions in which EPF subscribers can withdraw their account balance in advance?
These are some of the reasons for withdrawing the advance:
A. Housing loan
B. Lockout or closure of factory
C. Illness of subscriber of family member
D. Marriage of self/son/daughter/brother/sister
E. Post matriculation education of children
F. Natural calamity
G. Cut in electricity in establishment
H. Buying equipment by physically handicapped
I. A year before retirement
J. For investing in Varishtha Pension Bima Yojana
Can you get the claim money in some other bank account?
It is not permissible. The claim money is transferred straight to the bank account linked on UAN. If the account is closed, first you need to change the bank account on UAN before opting for withdrawal.
When you carry out EPF withdrawal, how does the authentication happen?
The authentication of claim submission happens through an OTP sent to a subscriber’s UIDAI-registered phone number, where they have to give permission to the UIDAI to share their e-KYC (Aadhaar) to EPFO.
ALSO READ | When will EPF members receive interest for FY 2023-24 in their accounts? Here’s EPFO’s response
What are the steps to follow to apply for a claim online?
1. Login to the member interface using UAN credentials.
2. Meet all the conditions of service eligibility and KYC as mentioned against the UAN.
3. Opt for the relevant claim.
4. Authenticate the details using OTP received on the number with UIDAI.
5. The online claim form is submitted.
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Published: 16 May 2024, 04:44 PM IST