The Employees’ Provident Fund (EPF) is built over a career through contributions from you and your employer. It is run by the Employees’ Provident Fund Organisation (EPFO), which gives workers a safety net for retirement. When you retire, you receive the accumulated amount along with the interest.
When you can withdraw
You can claim your EPF in situations such as retirement (on or after 58 years of age), prolonged unemployment (as per EPFO rules), or by the nominee if the member dies before retirement age. Rules on early withdrawal have been revised from time to time, so check the EPFO website for the latest.
Key rules to know
- After retiring at 58, you apply for your final settlement claim.
- Your PF balance is the total of your contribution and your employer’s.
- If you have served for 10 years or more, you also become eligible for a pension under the Employees’ Pension Scheme (EPS).
- If you have not completed 10 years of service, you can usually take the EPS amount as a withdrawal along with your EPF.
- After you register on the member portal, you can submit your claim online.
Tax on withdrawal
The EPF corpus is generally tax-free when withdrawn after retirement, provided you have completed the required years of continuous service. Interest can become taxable if the account stays inactive for a long period, so avoid leaving it idle for years after retirement. Tax rules change, so confirm the current position with a tax professional.
How to file the online claim
- Log in to the EPFO member portal with your UAN and password.
- Under Online Services, select Claim (Form-31, 19, 10C and 10D).
- Your member details and KYC will appear. Enter your bank account number (seeded against UAN) and click Verify.
- Click Yes to sign the undertaking certificate, then continue.
- Click Proceed for Online Claim.
- In the I want to apply for section, select the claim type, such as full EPF settlement. If you are not eligible for an option, it will not show in the list.
- For a partial withdrawal, choose PF Advance (Form 31) and enter your address, the amount you need and the reason.
- Upload scanned documents if asked, and submit the claim.
Once your employer or EPFO approves the claim, the money is credited to your bank account. This usually takes around 15 to 20 days, though timing can vary.
Before you start
If you have worked at more than one company, merge all your old PF accounts into one first. It avoids delays, and makes sure your whole balance is claimed in one go. Make sure your KYC, bank details and Aadhaar are updated in the portal.
