The Employee Provident Fund is a scheme initiated by the government of India to follow up the Employee Provident Fund Act of 1952. According to this Act, both the employee and the employer contribute a specific sum of money each month towards the given account. The money is invested on a monthly basis and enables the employees to build a corpus for retirement. The PF (Provident Fund) account changes with every change of organisation, but the consolidated EPF account remains the same, and is identified by a Universal Account Number (UAN). This 12-digit UAN is all you need if you’re wondering how to withdraw PF online with UAN.
To know your EPF balance or check contributions made by an employer, one may log onto the EPFO e-SEWA portal, mobile app, and SMS- all of which can be logged in with the UAN.
Any account number is a unique identification number that helps you keep your information, money, and assets safe. You are already familiar with the most common variety of account numbers: your bank account number and your consumer account number, which allows you to pay your utility bills. Similar to these account numbers, the UAN number also uniquely identifies your EPF (Employee Provident Fund) deposits and keeps them safe. It helps you port various PF accounts started for you by various employers under one number, and is accessible only to you. In a way, this unique identification method secures your deposits with a virtual lock and key and simplifies the process of accessing and checking on your EPF. This number is issued by the Ministry of Labour and Employment and is generated and assigned by the Employees’ Provident Fund Organisation (EPFO).
PF Withdrawal Online
In order to withdraw one’s PF amount (in part or completely), there is step-by-step procedure to follow. It is now possible to do all of this online. In case of emergencies where the PF funds are required to be withdrawn (like for hospitalisation, edicucation, home-repair or more), quick access to funds is required. In this case, one can skip taking a loan, and withdraw funds from the PF instead. All that is required here is to keep the Universal Account Number (UAN) handy.
How to withdraw PF online with UAN number?
One can easily withdraw the PF online using a UAN by visiting the EPFO e-SEWA portaL, but need to ensure the following :
- The UAN needs to be activated
- The Aadhar number needs to be linked and verified with the UAN
- The bank account where the amount is to be received needs to be the same as the bank account that is registered with the Aadhaar
To make any changes or modifications to any of the above, one can simply complete the eKYC process and update the details before submitting a claim.
How to withdraw PF online with UAN : Step by Step
1. Login to the portal – Visit the EPFO e-SEWA portal and login using your personal UAN and password.There will be a captcha code that needs to be entered. There will also be a password, which can be reset via an OTP that is sent to the registered mobile number.
2. Tap on the Online Claims section – After logging in, spot ‘Claim (Form-31, 19, 10C & 10D)’ which comes under the ‘Online Services’ section
3. Enter bank account details – Upon opening the claims section, one can enter the correct bank account number (seeded with UAN). This is a part of the verification process.
4. Confirm Terms & Conditions – After verifying the details, one needs to confirm the ‘Terms and Conditions’ as stated by EPFO, and then click on ‘Proceed for Online Claim’
5. Select reason for withdrawal – Next comes a dropdown menu where you need to choose the reason for withdrawing funds from your PF account. You will only be shown the options which make you eligible to withdraw funds.
6. Enter details and upload the required documents – Upon selecting the reason for withdrawal, you need to enter your complete address, and may also need to upload your cheque/passbook details (in cases where the option chosen for withdrawal was ‘Advance Claim’). Next you need to accept further ‘Terms and Conditions’ before requesting a one-time password (OTP) for verification.
7. Get your Aadhaar OTP – Once you have confirmed the details and accepted the ‘Terms and Conditions’, send the request for an OTP. This OTP will be sent to the mobile number that is registered with the Aadhaar. Upon entering the OTP, the claim application gets submitted.
Once the claim has been submitted, one can track the status of the claims by logging into the Member e-SEWA portal account under the label of ‘Track Claim Status’. The EPFO officials then will match your given data in their records, as per the data submitted in the online claim form. Once this verification is complete, they will process the claim application, and the amount is credited to the bank account which is linked with the UAN.