As per Employee Provident Fund Act which was initiated by Government of India in 1952, PF or the Provident Fund automatically becomes one of the lucrative schemes for the salaried people. Many people after COVID arrived, have started to withdraw PF Online.
The main reason is you employer has to contribute exact equal amount of money to your PF account as what you do.
However, there is an upper cap of either 10% or 12% of Basic Salary + DA amount.
Also Read: Know EPF Withdrawal Claim Rules due to Coronavirus [July 2020]
What is UAN?
UAN is known as the Universal Account Number, ie, its your unique identity number of your PF account which does not depend where ever you are employed.
In case you change your organisation due to better pay or growth opportunities, you just need to provide the same exact UAN number so that your employer can start disbursing their PF contribution in your same account.
What do you require to Withdraw PF Online?
There are several possibilities when you could need to withdraw your PF amount from your UAN account. Some of the key reasons for PF claim in Indian scenario are Child Marriage, Job Loss, Hospitalization due to poor health, Repair work at Home etc.
There are 3 basic requirements in case you wish to withdraw your PF amount online –
- You should have your UAN ready with you.
- Your UAN must be linked with your Adhaar Card (this is important and missing for most of people).
- Your Adhaar provided should be linked to the same Bank Account where you want your amount to arrive.
Read about Provident Fund in detail
How to Withdraw PF Online – Online PF Kaise Nikale?
Specially due to Covid 19, many people are searching “online pf kaise nikale”. Trust me, it’s quite simple process. you can easily withdraw you PF amount using EPFO e-SEWA portal by following steps –
- Login – Login to the portal using your UAN and Password. In case you have forgotten the password, you get get it again via OTP service
- Go to Online Claims – Click on “Claim (Form-31, 19, 10C & 10D)” link provided in “Online Claims” section
- Enter Your Exact bank Account Details – Enter the exact details and make sure you check the latest bank IFSC code from the bank’s website. Once entered, agree to “Terms and Conditions”.
- Reason of Withdrawal – You would need to provide Reason of Withdrawal of your PF amount. make sure you provide the correct reason for claiming the PF amount.
- Enter Address and Upload Documents – You will need to enter your full address and upload the canned copy of your Bank Account passbook . In case you choose “Advance Claim”, tick on “Agree to Terms and Conditions” again.
- Validate via Adhaar OTP – You will get an OTP on your mobile phone linked to Adhaar Card to verify you are the genuine owner of that UAN Account and wish to withdraw amount from it.
This process is quite simple unless you dont have your Adhaar linked to your UAN number.
Once its completed, you can track your Claim Status by logging in your account at the same “e-SEWA” portal. You will find “Track CLaim Status” option from where you can check if your PF money got disbursed to you bank account or not.