EPF: How to withdraw money from your PF account? Key questions answered | Mint (2024)

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How can one do online claim settlement? What are the service conditions that need to be met for the online claims? What are the conditions in which EPF subscribers can withdraw their account balance in advance? Can you get the claim money in some other bank account? When you carry out EPF withdrawal, how does the authentication happen? What are the steps to follow to apply for a claim online?

If you are planning to withdraw money from yourEPF 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 theEPFOdatabase 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):

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

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.

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