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What is the process of PF withdrawal?

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Minal

Employee Provident Fund is the retirement benefits scheme that is available to all salaried employees including government, public and private and this fund is maintained by Employee Provident Fund Organization (EPFO) of India.

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It is also called as a saving platform that helps employees to save a fraction of their salary at every month and it can be used when we are unable to work or upon retirement. 

As per the EPFO Act 1952, Employees can process for Provident Fund withdrawal only if given up working or want to be self-employed, mandatory of 2 months waiting period are required to process.

Below is the Provident Fund withdrawal process by filling up the required forms:

1) Form 19 (For Making PF Withdrawal),

2) Form 10 C (for making a withdrawal from pension scheme).

3) Form 15G ( For saving TDS deduction).

  • Employees have to fill PF withdrawal forms and submit to HR department or Regional PF office (If company shutdown or not functioning) along with the documents like a Cancelled cheque ( for verification of account details), last three months bank statements (For activation of bank account) and attested Pan card and Aadhar card photocopies for identity proof.
  • PF Withdrawal forms require signatures of an employer or if employer not functioning or closed the business, in that case, the signature of Bank manager or Gazetted officer or magistrate has authority to sign the documents.
  • All the documents need to be submitted to PF department and it takes 45 days to process or reflect in respective account.

Above are the manual process of PF withdrawal, Universal Account Number (UAN) made it easier, a comfortable and fast process of PF withdrawal.

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