New Delhi: In a major relief for jobless individuals, the Employees’ Provident Fund Organisation (EPFO) has announced that unemployed members can now withdraw their provident fund savings after 12 months of being out of work. The decision, approved by the Central Board of Trustees chaired by Labour Minister Mansukh Mandaviya on October 13, aims to provide financial support to those struggling during periods of unemployment.
What has changed in the EPFO withdrawal rule?
Under the new EPFO rules, unemployed members can now withdraw their full provident fund amount after 12 months of being jobless. However, they will be eligible to withdraw their pension benefits only after 36 months. Earlier, both withdrawals were allowed after just 2 months of unemployment, making this a major policy chang
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Full EPF Withdrawal Option—With a Catch
EPF members can now withdraw up to 100 per cent of their eligible provident fund balance, which includes both employee and employer contributions. However, there’s a key condition—members must retain at least 25 per cent of their contribution with the EPF. This means they can withdraw only up to 75 per cent of their total balance, while the remaining amount stays in the fund.
Step-by-Step Guide to Withdraw PF Online
Here’s how you can easily withdraw your PF money online:
Fill Form 19: Start by filling out Form 19 to initiate your PF withdrawal.
Login: Visit the EPFO member portal and log in using your UAN (Universal Account Number), password, and captcha.
Select Forms: Choose Form 19 for PF withdrawal and Form 10C for pension withdrawal.
Verify Bank Details: Enter the bank account number linked to your UAN and click on ‘Verify.’
Upload Documents: If eligible, upload Form 15G or 15H for tax benefits, and also upload a cheque showing your name, account number, and IFSC code clearly.
Authenticate with OTP: Click on ‘Get Aadhaar OTP,’ enter the OTP received on your registered mobile number, and submit.
Claim Submission: Once submitted, your request will be sent to EPFO for processing and approval by the designated official.
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