The Employees’ Provident Fund (EPF), commonly known as the Provident Fund, is a savings, pension, and insurance scheme mandatory for all employees in India. Employees no longer need to visit multiple offices or wait for months to withdraw money from their EPF accounts. The process can now be completed online through the UAN (Universal Account Number) portal.
The Employees’ Provident Fund Organization (EPFO) deposits interest into EPF account holders’ accounts. EPF members can withdraw a portion of their funds in certain circumstances. Below is a step-by-step guide to withdrawing EPF funds online. Employees can withdraw their entire EPF savings after retirement, but they are also eligible to withdraw a portion of the amount under specific conditions
To apply for an advance withdrawal, EPF subscribers can submit their application through the unified portal at mem.epfindia.gov.in. Once submitted, the application is sent to the employer for approval. Upon approval, the funds are credited to the subscriber’s bank account within 10 days.
Steps to Withdraw EPF Funds Online:
- Visit the UAN Member e-Sewa Portal.
- Log in using your Universal Account Number (UAN), password, and CAPTCHA. Click on the Sign In button.
- From the top menu, select Online Services, then click on CLAIM (FORM-31,19,10C & 10D).
- Verify the details displayed on the Online Claim Form.
- Enter your bank account number for verification
- Enter your bank account number for verification
- Click on the Verify button, then select Yes on the declaration form
After completing these steps, your claim will be processed, and the amount will be credited to your bank account promptly.