Recently, we have seen that the EPFO has launched the use of new simplified PF Forms for withdrawal/ transfer. In this post, we will have a look at the Forms which are required for the withdrawal or transfer and the criteria for the same.
The recent changes made by The Ministry of Labour and Employment has provided the facility for withdrawal / transfer the PF amount without the employer’s attestation. This move has been made to reduce the hassle on the employee’s part.
Two of the conditions which need to be fulfilled for this process are:
- UAN has to be active and should be linked to the Aadhar number.
- The KYC details have to be verified by the employer using a digital signature.
The EPFO has issued three new forms for this process:
- UAN Form 19 – This can be used at the time of retirement or leaving the job provided that you are unemployed for at least 2 months.
- UAN Form 10C – This is used for the withdrawal of amount from PS account. Further details are provided below.
- UAN Form 31 – This can be used for partial withdrawal from the PF account. The details about the partial withdrawal are mentioned below.
The details about the criteria for the applicability of these forms is mentioned below. Links are provided for the process of offline withdrawal/ transfer of the PF amount as well.
- Form 19: This form is used for withdrawal of the PF amount. It can be used at the time of retirement or when an employee quits his job. The main condition to be satisfied for the withdrawal of PF amount is that an employee has to be unemployed for at least a period of 2 months. If the employees have further employment, then they can transfer the amount from the previous account to the current account.
- Form 13: As mentioned above, If an employee wants to transfer the PF amount from a previous account to the current account, then Form 13 is used.
- Form 31: This is used for Partial withdrawal of the amount in the PF account. There are 7 purposes defined for which the amount can be withdrawn in advance.
- The amount can be withdrawn for the purchase of house / flat or construction of the house.
- Withdrawal can be made for repayment of loans in special cases.
- Withdrawal for Grant of advances in special cases.
- Advance can be taken from the fund for medical conditions under special cases.
- Advance can be taken from the fund for marriage or for post matriculation education of children.
- Advance can be given to members who are physically handicapped.
- Withdrawal made one year before retirement.
- The detailed list for partial withdrawal can be found here.
- Form 10C and Form 10D: This Form is used for withdrawal of amount from the PS account.
- If an employee is below 50 years of age:
- If the employee has completed 10 years of service under one employer, then Form 10C is used to get scheme certificate from the pension fund. Unless the employee is 58 years of age, the amount cannot be withdrawn.
- If the employee has not yet completed 10 years of service, then he can apply for withdrawal benefit or scheme certificate from pension fund through Form 10C.
- If the employee is aged between 50 and 58 years:
- If the employee has completed 10 years of service, then he is eligible to apply for scheme certificate from pension fund through Form 10C OR reduced pension through Form 10D.
- If the employee has not completed 10 years of service, then he can claim withdrawal benefit or scheme certificate from pension fund through Form 10C.
- If the employee is over 58 years of age:
- If the employee has completed 10 years of eligible service, then he can claim the pension through Form 10D.
- If the employee has not completed 10 years of service, then withdrawal benefit can be claimed from the pension fund through Form 10C.
These are the forms which are used with respect to EPF.