How to withdraw your PF Almost all of us are working for a company and we contribute a small percentage of our monthly salary into our Employee Provident Fund account. We all know that PF is a great saving instrument and it will help us generate a corpus for our retirement. But in case we leave the company or want to withdraw money for some emergency than we should know the way get it transferred or to withdraw PF amount. After all, it is our money and we definitely have the right to take it when we need it the most. 1. PF Withdrawal upon resignation: Upon resignation an employee can either withdraw or transfer his/her PF amounts at his desire. a) For Withdrawal: In order to withdraw the PF/ Pension funds you have to submit Form 19 (Download) and Form 10C (Download) preferably through your employer (Read this to withdraw PF amount without employer sign). Depending upon the attitude and working capabilities of employees in the respective EPF Office, it will take 45 to 60 days to get your balance credited to your bank account. Withdrawals of PF can be done only after 60 days period after resignation. With From 19 (Download) and 10C (Download) also attach xerox copy of the first page of the passbook of your savings bank account (preferably with nationalised bank) depicting the bank account number, branch location etc. and send the complete set of forms with enclosures to the previous employer for forwarding the forms to PF office. Form No 19 (Download) is for Provident fund withdrawal & Form No. 10C (Download) is for Pension scheme withdrawal. b) For Transfer: For transfer you have to get Form 13 (Download) submitted through your present Company but you need to know your earlier PF a/c no.etc. Also you need to provide following details to your current company. Name and address of the previous company from which PF is still pending to be claimed. Group Code of the previous company. Date of Joining and date of leaving from previous company. Your PF no from the previous company. 2. PF withdrawal during Working period : The Provident Fund members can avail advances / partial withdrawals subject to certain conditions like Marriage for self and dependant sisters, brothers etc / purchasing of dwelling house or repayment of housing loan / specified medical treatments / Closure of establishment etc., You need to submit Form 31 (Download) for claiming amount. But the PF authorities will sanction only if you satisfy the qualifying conditions. Read “Guidelines for PF withdrawal” that gives you clear idea like on what grounds can employee withdraw PF during his/her working period.
Posted on: Thu, 27 Jun 2013 05:29:54 +0000
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