4 Steps to Withdraw EPF Online For Final Settlement, Partial Withrawal And Pension Withdrawl Claims
Nowadays, provisions for most of the financial transactions have been made online which means that now EPF members don't need to visit their employer or the EPFO staff and a claim can be settled within a few hours.
EPFO logo. (File photo)
Withdrawal of Employee Provident Fund (EPF) is a recent addition to the facilities that can be availed online now, making the process hassle free and easy. Nowadays, provisions for most of the financial transactions have been made online which means that now EPF members don't need to visit their employer or the EPFO staff and a claim can be settled within a few hours. About 80 percent of EPFO's workload is due to the claims processing of mainly 3 claim categories that have been covered in the Online EPF withdrawl. Online submission of claims forms brings a sigh of relief to both the EPFO's employees as well as members.
As per the latest press notice by EPFO, EPF claims of 3 categories i.e. Full Withrawl via PF Final Settlement, PF Partial Withdrawal via loan/advance and Pension Withrawal Benefit through EPS withdrawal, can be made directly through employees UAN (Universal Account Number) portal by all members of EPF who have activated their UAN and linked their KYC or Aadhaar card number with the EPFO.
Let us take you through the procedure for EPF Withdrawal Online:
First of all you should have activated your Universal Account Number (UAN). You need to link the following with your UAN –
i) Your mobile number, which is in working condition (should be the same as registered with your Aadhaar card)
ii) Bank Account details and the IFSC Code of the branch
Also, You should have linked your Aadhaar Card and PAN Card (in case of service of less than 5 years) on the EPFO website.
How to Withdraw EPF & EPS Balance online?
Step 1 is to log on to the UAN portal and enter your details.
Step 2 is to check whether the KYC details seeded are correct and verified or not.
Step 3 is to select the claim you require out of the 3 namely, full PF Settlement, PF Part withdrawal (loan / advance) or EPS withdrawal
Step 4 is to verify the online PF claim using One Time Password (OTP) that you will receive on your mobile number linked with your UAN. EPFO will obtain your KYC i.e. Aadhaar details from UIDAI and your online PF claim will be processed and your bank account will be credited with the amount of the claim.
Also, if someone is applying online for EPF partial withdrawal i.e. loan/advance, he/she doesn't need to submit any documents along with. Now that surely brings a lot of convenience and easy access to one's money as the current EPF withdrawl system required minimum 30 days to process the abovementioned EPF claims.
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