Withdrawing PF Amount online: Step wise procedure

Several life events are affected by the money we invest in that event, such as higher education, marriage, retirement, and more. These major life events call for hefty sums of money to be invested in one time. An individual need to save funds for these events for an extended period to avoid a sudden financial crisis. For working employees, these regular savings can be done with the help of Provident Funds. Employee Provident Fund is a monthly saving provided by the employee’s organisation. This investment instrument comes with added benefits such as high-interest rates, life cover insurance, and a pension plan.

If you already have a PF account, you would know that with the development of EPFO website you can now claim your Provident Fund balance online. Follow the following steps to claim your PF balance online.

Step 1: Login to your UAN account

To avail the benefit of claiming PF balance online, you need to login to your UAN member account. You can log in to your UAN account through the EPFO website or the UMANG app. You will need your UAN number, which is a 12-digit unique ID given to all the EPFO members and your password to the account.

Step 2: Click ‘Online Services’

Once you login to your UAN account, click on the ‘online services’ among the other options available. Here you will be shown several online services that the EPFO provides to their members. These services help the you to avail services from the comfort of your home or office.

Step 3: Select ‘Claim (Form-31, 19 & 10C)’

Among the online services that are displayed on the screen, select Claim(Form-31, 19 & 10C). This is the first step to withdraw your PF balance online. After you select this option, your withdrawal process is initiated and leads you to the further steps to complete the process

Step 4: Verify the form displayed

A form will be displayed on your screen after you select Claim(Form-31, 19 & 10C). This form will have your personal details auto-filled. Here, you need to add the last 4 digits of your bank account and verify the auto-filled details once. Checking the details is important because you cannot change these details later. Once you have checked the details click on ‘Verify’

Step 5: The Undertaking Certificate

Once you verify your details in the form of an undertaking certificate is displayed on the screen. You need to click on ‘Yes’ given on the bottom right corner of the form. This step is added to the claiming process to avoid unauthorized transactions from taking place adding to the fund security provided to the employee.

Also, Read Related Article: How to Check EPF Account Balance on Phone

Step 6: Click on ‘Proceed for Online Claim’

After the undertaking certificate is authorized, the screen displays a ‘Proceed for Online Claim’. You can click that button to finish your claim process. Clicking on this button will take you to the next of your PF balance claim online.

Step 7: Complete ‘PF Advance (Form 31)’

The next step after you click the ‘Proceed for Online Claim’ button is to complete another form. Here, you have to click on ‘PF Advance (Form 31)’ in the ‘I want to apply for’ section displayed. Clicking on this button will change the drop-down menus of the further options given in this form.

Step 8: Choose your Purpose of Withdrawal

After selecting the PF advance option, you will be asked the reason for your online withdrawal. It is important to note that Provident Funds have less liquidity value and hence there are only a few options for with Employee Provident Fund withdrawal is approved. Click on ‘Purpose for which advance is required’ in the form displayed. Here, you can choose the purpose of your withdrawal. There are options given in the drop-down menu; you need to select from the given options only.

Step 9: Attach Necessary Documents

This is the last step of your PF balance claim online. Here, you need to submit the scanned copies of your supporting documents online. You have to upload these on the online portal itself.

Step 10: Employer Approval

The PF Balance claim will only be processed by the EPFO once your employer approves the request. Wait for your employer’s approval, and then the balance claimed will be transferred to your bank account.

PF balance claim online helps one to fund major life events, but there can be situations when the application is disapproved. It is always smart to have options to fall back on. Another safe investment instrument can be Bajaj Finance Fixed Deposits which offer similar benefits like PF along with high liquidity value.