EPFO introduces Single Page Composite Claim Form: Here are 5 things to know

By: | Updated: February 22, 2017 5:01 PM

Subscribers of retirement fund body EPFO can now easily withdraw their money from the PF account using only one common composite form, where they are not required to file other relevant documents adhering to the new rules released by EPFO.

PF EPOF provident fund funds, For more convenience, these forms now have been further simplified and replaced with a single page Composite Claim Form (Aadhaar).

Subscribers of retirement fund body EPFO can now easily withdraw their money from the PF account using only one common composite form, where they are not required to file other relevant documents adhering to the new rules released by EPFO.

In may be noted that with a view to make its services available to its stakeholders in an efficient and transparent manner, EPFO (Employees’ Provident Fund Organisation) had introduced Universal Account Number (UAN) some time back. Subscribers, who seed Aadhaar and Bank account details to their UAN, now have the facility to submit claim forms directly to EPFO without the attestation of employers by preferring claims in Forms No. 19 (UAN), 10C (UAN) & 31(UAN).

Here are five things to know about the new EPFO Single Page Composite Claim Form:

No attestation of employers required
For more convenience, these forms now have been further simplified and replaced with a single page Composite Claim Form (Aadhaar). This new Composite Claim Form (Aadhaar) can be submitted without the attestation of employers.

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Introduction of self-certificate
Self-certification replaces various certificates prescribed at present. The Composite Claim Form (Aadhaar) / Composite Claim Form (Non-Aadhaar) now comes with self certification. Following withdrawals under various provisions have been made operational.

Partial withdrawals: The “New Declaration Form” required to be appended with Form No. 31 for housing loan/purchase of site/ house/ flat or for construction/ addition, alteration in existing house/ repayment of housing loan is discontinued. Requirement of “Utilization Certificate” has also been dispensed with. No document would be required to be submitted by the subscriber in respect of these partial withdrawals.

Grant of advances in case of closure of factories: No document would be required to be submitted by the subscriber.

Marriage advance & for availing advance for post-matriculation education of children: No document, including marriage card, would be required to be submitted by the subscribers.

Advance in abnormal condition: Member may self-certify that his property has been damaged. No document would be required to be submitted by the subscriber.

It is to be noted that submission of Composite Claim Form (Aadhaar) / (Composite Claim form (Non-Aadhaar) duly signed by the EPF subscriber shall be construed as ‘self-certification’ for the above said partial withdrawals, for which no document would be required to be submitted to the EPFO offices.

TDS deduction norms

In the facility, TDS is going to be deducted if the services is less than 5 years. However, no TDS is deducted in case the total balance is less than Rs 50000. It is to be noted that TDS will get deducted at 10 per cent if the member readily submits the PAN card. If PAN is not submitted by the member, then TDS at 34.60 per cent will be deducted from his balance amount. The following clause is applicable for both the Aadhaar-based composite form and the non-Aadhaar based composite form.

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Revenue stamp not required
In this new form, no revenue stamp of Re 1 is required in both the cases whether you are filling Aadhaar-based composite form or the non-Aadhaar based composite form.

Pension Benefit

The new regime by EPFO provides you with the pension withdrawal benefit which can be availed only if the service is less than 10 years. The following is applicable for both the Aadhaar-based composite form and the non-Aadhaar based composite form.

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