EPF Withdrawal Online
Employee provident fund withdrawal or PF withdrawal form change has been one of the biggest steps taken by the Employee Provident Fund Organization. The new form has completely revolutionized the procedure of EPF withdrawal.
Earlier, PF withdrawal form required attestation and approval from employer, but now the new form is as simple as filling bank withdrawal slip. It has enabled different types of users to fill it on their own without seeking help of other professionals or experts.
To know other benefits of using PF withdrawal form, kindly read the important points jotted below:.
Requirements For New PF Withdrawal Form
The form is applicable to the employees who have completed the details of Form-11 and employer has seeded his Aadhaar card and bank details as KYC. It is also important to ensure that they have uploaded the information to the portal of UAN along with duly attestation through digital signature. Since, you don’t have to enter any ID proof at the time of submission of form, it is hence important that you complete KYC formalities beforehand. Below are conditions or requirements that must be fulfilled.
- You must have a Universal Account Number and must register yourself at the UAN portal. All the information that you have provided in EPF UAN portal must be correct.
- Require a bank account number and Aadhaar card linked to that.
- Both the documents must be verified by employer. This verification can happen when you are in the job and every employer must approve the KYC information shared by employee.
- Every new employee also should fill the new Form 11 and must have KYC details.
Format of EPF Withdrawal Form
An individual while filling the PF withdrawal form is required to fill in six important details. This information is completely basic and is almost readily available with the users willing to access it. However, while entering the information it is essential that you mark your correct signature and also give appropriate information such that the proceeding gets completed instantly. The basic details required to be filed in the form includes:
- Mobile Number
- Postal code
- Universal Account Number
- Date of Leaving service
Benefits of New PF Withdrawal Form
The form is completely concise and does not require the employee to search for more details or go under much stress. While accessing the form you can expect to achieve various benefits as mentioned below:
- You don’t have to get the new form attested from anyone else and the procedure is simple.
- PF withdrawal form takes less time as it is submitted directly in the PF office. You can easily get the PF money within three working days.
- Employer cannot withhold your EPF payment and you can get the PF amount directly from the employee provident fund organization
- Employee is completely free from the employer’s clutches once he has been relieved from the organization.
Difference between Old and New EPF Withdrawal Forms
One of the most important questions that most people have is they don’t know the difference between New and Old PF withdrawal form. The old withdrawal form asks more information about employer and payment account and also requires them to attest the forms. Such provisions are must and have to be included to ensure that payment is made. On the contrary, no information has to be provided while filling new form, as it gets accessed from UAN database. UAN contains information about employer’s name, date of joining and other relevant details which are required for filling in the form. Before the amount is released to the employee, every detail is verified and checked in using the new withdrawal form. Both the forms are quite different from each other, facts relating to it have been discussed below:
- The old form requires you to provide PF number to have access to the account. However, this column is missing in new form and information gets extracted on its own from the linked UAN.
- Further verification in old form requires an employee to provide his date of birth, name of establishment and date of joining. However, these details need not have to be provided now as it can be extracted from the linked UAN.
- Date of leaving is another mandatory detail which needs to be provided by an individual to check if he meets the minimum unemployment criteria and date of last PF contribution. At times such information is not provided by the employer, which is why column asking such information is added in the new form.
- EPFO also assures that PF gets deposited in the right account. Hence, in order to check this copy of cancelled cheque bearing your name is requested for. The cheque detail is further checked with UAN data. However no such information has to be provided while filling new form as data is already available in the UAN database.
We shared most important information on PF withdrawal form like formats, benefits, difference between new & old forms, etc. Also you can check your PF balance check online from the epfindia.com. Visit our website regularly for latest updates!