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Unlock Your Financial Freedom: Easy & Secure PF Withdrawal


10, January 2026

Today, we will be discussing a bit more on Provident Fund (PF).

Come, let's get started.

PF Withdrawal

This PF(Provident Fund) scheme is initiated by the government, where the employer contributes a specific monthly amount to save it for a post-retirement life and is identified by your Universal Account Number (UAN), which is a 12-digit number.

In 2022-23, The Employees Provident Fund Organization (EPFO), a statutory body, fixed the interest rate at 8.15%, where the employees have to contribute 12% of their basic salary, and these funds earn the interest yearly.

Benefits

  • You can apply for a loan against the PF savings if you have been in service for several years.
  • If you have been unemployed atleast for 2 months, then you get a chance to withdraw your entire PF amount at once.

Types of PF Withdrawals

It has 3 types of withdrawals that include,

  • Partial PF withdrawal
  • PF Final Settlement
  • Pension withdrawal benefit

Reasons for Partial Withdrawal of EPF

  • Education
  • Medical emergency
  • Repayment of home loan
  • Marriage
  • Buying a property

Other reasons for withdrawal of EPF

  • If your permanently moving abroad.
  • If you have been unemployed for more than two months
  • After reaching the age of retirement

TDS (Tax Deducted at Source)

It is a tool the government uses to collect tax on various incomes of the deductee, and the deductor is bound to submit the same to the government. The recipient will be getting a certificate from the deductor with the amount of TDS deducted due to premature withdrawal.

After five years of maintaining an active EPF account, if you decide to withdraw Rs.50,000 or even more, then the withdrawal will come with a TDS of 10% (10% will be charged if you have a valid PAN card in India) or if not TDS of 30% will be charged. It will be deducted if the amount in payment is above the specified level by the Income Tax Department.

Form 15G/15H

It is used to declare total taxable income that is filled by fixed deposit holders less than 60 years to avoid TDS deduction from their interest income in a year. It is used when your annual income is more than exempted slab in income tax.

Rules of EPF (as per the year 2022)

  • The employees who draw a salary up to Rs.15,000 are eligible for the EPF scheme.
  • While changing jobs, the employee need not worry about not having a Provident Fund account, as EPF can be easily transferred.
  • Employees across 54 years or above can withdraw 90% of the EPF.

Documents Required for EPF Withdrawal

The necessary documents required are as follows:

  • Universal Account Number (UAN)
  • The employee's personal information, like date of birth and father's name, has to match the identity proof perfectly.
  • The employer has to provide the EPFO with the employee's information and record the employee's departure from the firm.
  • Correct bank account information has to be submitted.

Online procedure for withdrawing PF

Step 1: Visit the UAN portal

Step 2: Next, log in to the portal and enter the captcha with your valid credentials.

Step 3: With the KYC section in the 'Manage' tab determines whether all the details are verified or not.

Step 4: Select the "Claim (Form - 31,19 & 10C" option).

Step 5: Once done, you need to click on "Verify."

Step 6: To sign the certificate click the "Yes" option

Step 7: Now, select "Proceed for Online Claim" and choose the type of claim that you require

Step 8: "PF Advance (Form 31)" has to be selected

Step 9: Lastly, click on the certificate and apply.

Types of EPF withdrawal forms

Form 19: The retired or unemployed person for 60 days can apply with this form for the final settlement of EPF.

Form 31: The retired or unemployed person for two months can apply with this form for partial withdrawal of EPF.

Form 10C: The employee, before the completion of 10 years of service, can withdraw the accumulated pension using Form 10C of EPF.

Withdrawing your Provident Fund (PF) can seem appealing, especially during difficult economic times. However, it is critical to comprehend the consequences before making a decision. Here are some important factors to be kept in mind:

Tax Implications

Before you withdraw funds from your PF, consider the tax implications. Without completing five years of service, a hefty 34.6% TDS applies. Link your PAN card to your PF account to reduce this up to 10%. Fortunately, small withdrawals under Rs. 50,000 are excluded from TDS entirely. Remember that engaging a financial professional can help you manage these tax implications and make sound decisions.

Impact on Retirement Planning

Your PF works as a retirement savings account, providing financial security in your later years. Withdrawing it prematurely might substantially deplete this corpus, leaving you exposed when you need it the most. Consider alternatives such as a PF loan, which lets you to access funds for emergencies while protecting your long-term retirement goals.

Loss of Earning Potential

Unlike other savings accounts, your PF account earns a competitive interest rate. Withdrawing your PF means giving up this benefit and the opportunity for a significant increase over time. Compounding allows even the smallest corpus to increase dramatically over time. Consider the urgent necessity with the long-term benefit of putting your PF to work for you and generating a consistent source of interest income during your retirement years.

Reason for Withdrawal

Before withdrawing funds from your PF, evaluate the reasons for the withdrawal. Is it a transitory setback that can be mitigated with alternative solutions? Consider seeking financial assistance from loved ones or looking into credit card possibilities (used sensibly and with a quick repayment plan to avoid hefty interest costs). Remember that PF withdrawals for emergencies frequently have special requirements and only permit partial withdrawals. Don't risk your long-term security for a brief problem; consider all options before making a decision.

Future Employment

If you are thinking about changing careers, don't withdraw your PF right away. An interruption in service longer than two months will jeopardize your PF eligibility with your new company. This can cause delays in participating in the new company's PF system and receiving its benefits. By postponing your PF withdrawal, you ensure a smooth transfer and get rid of any obstacles to obtaining your PF benefits at the new company.

We hope the above information was useful for you to claim your EPF.

GR Sitara - Hosa Road Bangalore

Trending Blogs

Most Frequently Asked Questions?

What is EPF (Provident Fund), and how does it function?

EPF, or Provident Fund, is a government-initiated scheme where employers contribute a monthly amount to save for employees' post-retirement life. It's a special code known as the Universal Account Number (UAN), containing 12 digits and assigned uniquely to each account.

What are the types of EPF withdrawal forms?

Forms such as Form 19, Form 31, and Form 10C are used for the final settlement of EPF,  serve as the enchanted keys for seekers of financial liberation.

What documents are required for EPF withdrawal?

Documents required include the Universal Account Number (UAN), accurate personal information, employer-provided departure information, and correct bank account details.

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