EPFO allows its subscribers to withdraw funds prematurely under some specific conditions and rules. This primarily involves withdrawal due to certain defined reasons viz., purchasing a house, outstanding member loans, repayment of member loans, residential site purchase, vocational education or marriage of dependent children, natural calamities, lockout, and closure. Recently, EPFO has explained in its social media platform X that the members can claim advances for the purchase of a site with subsequent construction of the house also.
EPFO Guidelines and Process
EPFO has further streamlined ease of withdrawals with its member-friendly portal. Here’s how you can raise the withdrawal request:
- Visit the official website of EPF.
- Use your UAN and Password to login to the UAN Member Portal.
- Check Member and KYC Details: Check that all your member details, KYC details, and other service-related information are updated and accurate. Fill in your bank account number linked with your UAN and verify the same.
- Sign the Certificate: Validate your application by signing the certificate digitally and proceed.
- Proceed for Online Claim: If you want to make a partial withdrawal of your money online, select “PF Advance (Form 31)”. Put in the purpose for which advance is required and the amount needed aside from putting your residential address, then click submit.
- Submit Your Application: After filling in relevant information, attach scanned documents, if needed, and finally submit your application for scrutiny.
- Approval and Disbursement: Your request will be approved by your establishment employer, and after verification, the money amount will be directly disbursed to your bank account, which is linked with your UAN.
Eligibility and Requirements
To apply successfully for EPF withdrawal online, make sure of the following: that your Aadhaar, PAN, and bank account linked with UAN on the EPFO portal are updated and active.
- Your UAN has to be active, and all necessary KYC details have to be verified and updated.
- In some rare cases, document verification might be required at the discretion of the authority concerned, depending on the purpose of withdrawal.
The effort of the EPFO in making online withdrawals has definitely made the procedure easier, thereby offering a hassle-free and easy access method to its beneficiaries. By following the above steps and adhering to the conditions of eligibility, EPF members could efficiently manage their financial needs through withdrawals.