PF Withdrawal Form: step by step guide to Online Provident Fund Withdrawal Process without Employer’s signature. PF Withdrawal Form is available to withdraw money from Provident Fund Account. EPFO Organization has provided various Forms for PF Withdrawal and Final Settlement. Recently EPFO has made the PF Withdrawal Process easier with UAN. EPFO introduced Single Page PF Withdrawal Form which is also called as Composite Claim Form. This new type forms are useful for PF Partial Withdrawal (Form 31), Pension Scheme Benefit (Form 10C) and PF Final Settlement (Form 19).
Employees who are registered on UAN Member Portal, are eligible to fill up PF Withdrawal Form Online. For PF Withdrawal claim online, you must seed your Aadhaar and Bank Account Details with EPF Account. In earlier years, PF Withdrawal Form was available offline only. The employees had to wait for two three months to get loan/advance from PF Account.
PF Withdrawal Form
After introduction of UAN Based Single Page PF Withdrawal Form, PF Withdrawal Process is very fast and easy for employee. Now Employer’s Attestation is not required on PF Withdrawal Form Online. It means Employees can directly submit the Online PF Withdrawal Form to EPFO on UAN Member Portal. In case the Aadhaar is not seeded with EPF Account, Employee has to fill up the Form and give it to respective Employer for Attestation. Thus, Single Page PF Withdrawal Form is available in two categories (I)Composite Claim Form (Aadhaar) and (II)Composite Claim Form (Non Aadhaar).
Reasons to Apply for PF Withdrawal Form
Employees are eligible to get Advance or Loan from their PF Account, because it is their Lifetime Saving. People generally use their savings when they are in need of Money. EPFO allows employees to use their PF Account Balance through PF Withdrawal Form. Employees can claim for Partial Withdrawal of Provident Fund for some necessary purposes. EPFO will approve your PF withdrawal form if you have a valid reason for withdrawal. If the reason is not valid, EPFO may Reject the PF Withdrawal Form.
Partial Withdrawal of Provident Fund is allowed to Employee in following cases:
- Purchasing a House or Dwelling House
- Repayment of Loan in certain cases
- Higher Studies (Post Matric) of Children
- Marriage of Brother, Sister, Son, Daughter
- Medical Treatment of Parents, Family Member
- Other cases as described by EPFO
PF Withdrawal Form
Employees’ Provident Fund Organization has availed various forms like PF Withdrawal Form, PF Transfer Claim Form, PF Final Settlement Form and Advance from PF Account etc. Each form is designed for a certain purpose. So the employee firstly has to understand which form is applicable to him. Here we provide PF Withdrawal Form and related EPF Forms as under:
- Form 31: This Form is for Partial Withdrawal of Provident Fund. Employee should fill up EPF Form 31 when he wants Advance from PF for certain purpose.
- Form 19: This Form is required for Final Settlement of Provident Fund. However, EPF Form 19 is applicable only in case of Employee’s Retirement or Termination from Job or Physical Disability.
- Form 20: This Form is useful for the Nominee or Family Member of Employee. EPF Form 20 is for Withdrawal of PF after Death of Employee.
- Form 10C: This Form is to applicable to get Benefit of Provident Fund Settlement by Employee Pension Scheme (EPS) or Old Family Pension Fund. EPF Form 10C is generally attached with Form 19 or Form 20. Please note that Age of Employee must be less than 58 years in this case.
- Form 10D: This Form is to be filled up to get Pension. Employee has to fill up EPF Form 10D every time to receive his/her Pension. In case of Death of Employee, the Nominee should fill the Form 10D.
- Form 13: This Form is used for Transfer of PF Account from one Employer to another. Employee should fill up EPF Form 13 when he leaves the current job and joins a new job.
- Form 14: This Form is for LIC Life Insurance Policy. Employee is required to submit EPF Form 14 to get his LIC Policy financed from his own PF Account.
- Form 5 (IF): This Form is required only when an Employee dies on service. The Nominee needs to fill up EPF Form 5 (IF) for PF Withdrawal /Settlement.
Online PF Withdrawal Form
Online PF Withdrawal Form is the fastest way for an employee to raise a claim of Provident Fund Withdrawal. Employees who have an Activated UAN, can use this facility. However, Registration of Mobile Number, Seeding of PAN, AADHAAR with Bank Account Details are mandatory for UAN Services. In order to submit Online PF Withdrawal Form, the Employee has to Login to UAN Member Portal with his Universal Account Number and Password.
TDS on PF Withdrawal
Tax Deducted at Source is charged when the Employee withdraws some/full amount of Provident Fund. But the Concept of TDS is wide and that’s why it is applicable in certain cases and not in other cases. Employees often get confused on Applicability of TDS and How to Save Tax on EPF. Here we provide Amended Rules for TDS on PF Withdrawal as under:
TDS is levied in following cases
- TDS is charged at Maximum Marginal Rate @34.608% when the Amount of PF Withdrawal is more than or equal to Rs.50,000/-, Employee has NOT completed five years of service and NOT submitted PAN.
- TDS is charged @10% when the Amount of PF Withdrawal is more than or equal to Rs.50,000/-, Employee has NOT completed five years of service and submitted PAN, but NOT submitted Form 15G/15H.
TDS is NOT levied in following cases
- TDS is not charged when the Amount of PF Withdrawal is more than or equal to Rs.50,000/-, Employee has NOT completed five years of service, but submitted PAN and Form 15G/15H.
- TDS is not charged when the Amount of PF Withdrawal is more than or equal to Rs.50,000/-, Employee has successfully completed five years of service.
- TDS is not charged when the Amount of PF Withdrawal is less than Rs.50,000/-.
- TDS is not charged when Employee’s PF Account is transferred from Old Employer to the New Employer.
- TDS is not charged when Withdrawal of Provident Fund is done on Termination of Job because of Employee’s bad health or Discontinuation of Business by Employer.
- TDS is not charged when Employee is terminated from his Job on completion of contractual period of a specific project.
- TDS is not charged when Employee loses his Job and the reason of termination is not in his control.
All the information about PF Withdrawal Form and TDS on EPF is true and authentic based upon our knowledge and research. Still it is advisable to refer official website at www.epfindia.gov.in in case you have doubt on any detail regarding Online PF Withdrawal Form and Tax/TDS.