EPFO has made it mandatory to make PF claims online for withdrawals of more than Rs 10 lakh. Here's a look at the PF withdrawal online process and how to check the PF online claim status following some simple steps.
Good news for EPF subscribers. In a bid to become a paperless organisation, the Employees Provident Fund Organisation (EPFO) has made it mandatory to make PF claims online for withdrawals of more than Rs 10 lakh. Similarly, PF claims of above Rs 5 lakh now also need to be made online under the Employees Pension Scheme 1995. Here we are taking a look at the PF withdrawal online process and how to check the PF online claim status following some simple steps:
PF withdrawal online process
To apply for withdrawal of EPF online through the EPF Portal, you need to make sure that:
# Your Universal Account Number (UAN) and associated mobile number are active
# Your UAN is linked with your KYC, including Aadhaar, PAN, and bank details
Once the above conditions are met
1. Log in to the UAN portal.
2. Next, verify whether your KYC details such as Aadhaar, PAN and bank details are correct and verified or not. You can do this from the Manage tab.
3. Once you verify your KYC, select the Claim option from the Online Services tab. The Claim screen will display the member details, KYC details and other service details. Click on the Proceed For Online Claim tab to submit your claim form. Select the appropriate criteria under the “I Want To Apply For” field. Only the eligible options will show up in the dropdown box.
4. Once you select the relevant claim, a detailed form will be displayed. Fill in the form online and authenticate using Aadhaar OTP to complete the online claim submission. 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.
5. You can track your claim status through the ‘Track Claim Status’ tab, under the ‘Online Services’ menu.
“The paperless process simplifies the entire process and makes filing a claim a matter of minutes. Moreover, you can check, cross-check, and verify that all your details are correct before you file a claim, so that there are no problems later on. This latest move that makes online claims for provident fund withdrawals above Rs 10 lakh mandatory gives greater autonomy to individuals when it comes to their PF. They no longer need to depend on their workplace to send forms and approvals. There is no need to visit the PF office or send documents and forms by post,” says Adhil Shetty, CEO, Bankbazaar.com.
At the end of it all, your claim is directly processed to your bank account. So, there are no issues like cheques reaching the wrong party or the coming in too late. “This is a great relief especially in cases when the amount is large. For most people, EPF is a significant part of their life savings. We firmly believe that this step makes accessing it much simpler and safer,” informs Shetty.