Members of the Employees’ Provident Fund can now withdraw the balance in their PF account through the unified portal of the Employees’ Provident Fund.
The online facility has made the PF withdrawal process convenient and the member should ensure that all pre-conditions are met for a hassle-free experience.
Key points to consider Provident Fund withdraw the balance in their PF account through the unified portal of the Employees’ Provident Fund
Complete the Know Your Customer process, complete e-Nomination withdrawal Activate Universal Account Number explains not possible to withdraw PF online without having Universal Account Number.
Universal Account Number is a unique identification number allotted to a member of the Employees’ Provident Fund to which all his PF accounts are linked.
Once the Universal Account Number is generated, activate it online through the member e-SEWA portal or the UMANG app Link Aadhaar with UAN.
The government has made it mandatory to link Universal Account Number with the Aadhaar number to enable the employer to deposit monthly contributions.
Aadhaar-UAN seeding can be done online through the member e-SEWA portal or the UMANG app. Another one that completes the Know Your Customer process is The KYC is a one-time process.
In the Aadhaar number is important to be eligible for online claim submission and PAN is mandatory if the number of years of service is less than five years at the time of withdrawing the funds.
The next one that completes e-Nomination, The Employees’ Provident Fund has launched an e-Nomination campaign whereby all Employees’ Provident Fund members have to register a nominee.
E-nomination is required to be completed before the withdrawal of Provident Fund. Physical submission of the documents is not needed.
If the member has a Provident Fund account with a previous employer, the balance from which has not been transferred to his Provident Fund account under the new employer, ensure that such transfer takes place before filing the Provident Fund withdrawal claim.The member’s past Provident Fund amount automatically gets transferred into his account where his Universal Account Number is seeded and is fully KYC compliant.
Where the employee had a Provident Fund account before the introduction of Universal Account Number, it is necessary to initiate the transfer process separately.
In all the aforesaid steps the member can apply for withdrawal of his PF balance.
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