Sometimes PF corpus becomes our only ray of hope. In an emergency we see towards the EPF account. But, Getting PF money is not so easy. We do understand it. Still, We want to get some money from the EPF account. We want to know the way to withdraw PF without leaving the job. Is it Possible? Can we touch PF corpus while still working?
The answer of this question is YES and NO both.
You would not get your 100% EPF balance without leaving the job. Full EPF withdrawal is not permitted before retirement.
However, You can withdraw partial amount from the EPF account while in the job. This partial amount goes upto 90% of the PF corpus. Is not this a good provision?
But wait! the EPF account is not a saving account. You can’t get EPF money just because you wish so. There should be a valid reason for premature EPF withdrawal. In fact, EPFO have a list of reasons. You can withdraw money only for these reasons. The maximum amount of partial withdrawal is also decided on the basis of stated reason. Such as, if you want to withdraw money for marriage, the maximum amount would 50% of your PF contribution. Whereas, for house purchase, you can get 90% of the whole EPF balance. Following are the reasons to withdraw EPF amount while in the job.
- Purchase of Home/plot
- Construction of Home
- Renovation or Repair of Home
- Repayment of Home loan
- Marriage of self/daughter/son/sister/brother
- Post matric education of self/son/daughter
- Closure of Company
- Withdrawal prior to retirement
Eligibility and Conditions For Partial PF withdrawal
It has become very easy to withdraw PF amount while in the job. Now, partial PF withdrawal does not require any supporting documents. Yes! You don’t need to produce a medical certificate or marriage card. Your declaration in the PF advance form is enough to release the payment.
You can also withdraw partial EPF balance through the online mode. All the EPF members who have activated the UAN and linked their Aadhaar with it can use the online facility. The unified EPF portal gives you facility to withdraw PF advance. I would tell the whole process later. But, before that it is necessary to learn the eligibility and conditions for EPF advance.
|Sl No.||Purpose of Withdrawal||Minimum service Duration||Minimum withdrawal amount||Number of Withdrawal permitted|
|1||Home Purchase /Plot Purchase/ Construction of Home||3 years||
whichever is least
|2||Renovation or repairing of House||5 years from the construction of House||
Whichever is least
|3||Prepayment of Home Loan||10 years||
Whichever is least
|4||For treatment of your own or Family||Any Time||
Whichever is least
|5||For Marriage of self/son/daughter/brother/sister||7 years||50% of Employee Share with interest||3 times|
|6||Post matric Education of Self/son/daughter||7 years||50% of Employee Share with interest||3 times|
|7||For purchasing disability Equipment||Any Time||
Whichever is least
|After the interval of 3 years|
|8||Withdrawal Prior To Retirement||After 54 years of age and one year before retirement||90% of the EPF balance||Once|
|9||Closure of the Company||Whenever required||100% of EPF Balance||Not applicable|
How To Apply For Partial EPF Advance During Job
All types of EPF withdrawals have become very easy. Be it full EPF withdrawal after resignation or withdrawal without the employer signature or partial EPF withdrawal. The UAN and Aadhaar Linking has eased the whole procedure. EPFO is trying to end the human interference in whole process. Once your Aadhaar number is linked to the UAN, the employer’s authority ends. You can directly deal with the EPFO.
In this post, I would tell you the most recent method of partial EPF withdrawal. You can use this method only if you have linked your Aadhaar with UAN. Those who has still not linked Aadhaar can follow old method of partial EPF withdrawal.
Offline Method of Partial EPF Advance
EPFO has released a composite form for all types of PF withdrawals. Same form is used for EPF advance as well. You can directly submit this form to the regional EPF office. There is no need to go through the employer.
To use this form you have to fulfill following conditions.
- You must have given your personal details to EPF in new ‘Form 11‘. Employers, give you this form at the time of joining. Employers have also supplied this form to their old employees.
- Your bank details should be present in the EPF database.
- Your UAN should be activated. Every EPF member get Universal account number. Member can activate UAN this at unified member portal.
- The Aadhaar number should be linked to UAN. You can give Aadhaar to your employer. Also, Linking of Aadhaar is possible online through UAN portal.
If you are going to use composite form for partial EPF advance, you must give the purpose of withdrawal. All the eligible reasons are listed in the form. You have to just click in front the suitable one.
- You are not required to attach any supporting document or proof of your need.
- A cancelled cheque is necessary to attach as it confirms the bank account number.
- If your are taking out money to pay a housing society, bank or organisation, you can mention the name of the payee. The cheque would be released in the name of that person.
Online Method of Partial EPF Advance
Online Partial EPF withdrawal is very easy. You have to go through following steps.
- Login UAN member portal using your UAN and password
- Go to ‘Online services’ and choose Claim (form-31,19,10C)
- Fill the online form 31C. You have to fill the reason of partial withdrawal and amount.
- Check the declaration and submit the form.
- Wait for 2-3 days. You would get money in your account. If you opt for cheque, It may take some time to reach at your given address.
- Meanwhile, you can check your claim status through the same dashboard.
Isn’t very easy to get advance from your PF account? The key of this facility is your Aadhaar. Therefore, you must link your Aadhaar with the UAN as soon as possible.