But now the rules have changed for the employees to withdraw their EPF money while on the job. The employees’ cannot withdraw the money from their EPF until they want to pay for a home loan or pay the Home Loan EMI’s.
In order to withdraw the money from the EPF, the employee has to fill a new Composite Claim Form. The employees can directly file their form to the EPFO if they have their Aadhar card and bank account details on their Universal Account Number Portal (UAN) and the UAN should be active. If the applicant has all these documents present then he or she can file the claim form without the attestation of the employer. The claim form is available on the website of the EPFO. You have to be careful while filing the form so that you avoid making errors, and these are things you have to keep in mind while filing your claim form:
Choose the option for the kind of withdrawal that you need to make. There are options available on the form – final PF settlement, part PF settlement and pension withdrawal benefit. The same type is used for withdrawal of all three types’. So there should be no error while choosing the option.
These are documents that will be needed while filing form.
Your 11 digit UAN/ Universal account number.
The date of joining and resigning from the company.
The purpose of the withdrawal and the amount required. Now due to the changes made in the rule, the employee can withdraw the amount for the Home Loan, purchase of the land site, house, joint Home Loan, improvement or alterations to be made in the house; no additional documents are required.
If the applicant needs to apply the claim form for the payment of advance for the purchase of a flat or a house then the applicant has to mention the name of the agency or the company to which the payment has to be made.
If the applicant needs to withdraw the amount any medical treatment or any medical expense then the applicant has to submit a certificate from the document about the expense needed for the treatment and also from the employer stating that the ESIC facility is not issued to the applicant.
If the applications are made for the withdrawal for the marriage of self/ daughter/son/sister. Then there might be no documents required but in some cases, there might be a copy of marriage card asked from the applicant.
Purposes related to education then no documentation is required.
In case the applicant has suffered from a natural calamity then no documents are required to be submitted.
If the applicant needs to buy medical equipment (for physically handicapped) then a medical certificate may be asked from the applicant.
If the applicant has 1 year remaining before retirement then 90 percent of the amount can be withdrawn from the applicant’s account without any documents. And in case the person has applied for Varishta pension bima yojana, 90 percent of the amount can be transferred to the applicant’s LIC account without any documentation required. And if the applicant moves abroad for a permanent settlement then he or she can withdraw the entire amount. Thus these are the factors that are essential when it comes to withdrawing from the provident fund.