Planning to withdraw PF money but don’t have UAN? Know how you can do it

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Planning to withdraw PF money but don’t have UAN? Know how you can do it

January 18, 2019, 5:39 AM

Provident Fund (PF) or the Employee Provident Fund (EPF) Scheme is the contribution put together by both the employee and the employer in the form of monthly salary deduction. Provident Fund is an investment aimed towards building a retirement corpus for the employee. The employee and the employer together make an equal contribution of 12 per cent, towards the EPF account.

At the time of retirement, each employee can get their PF with EPF interest amount. In our country, a lot of retired employees are dependent on PF and pension. However, to withdraw the money, one needs to provide a UAN number, that is given by the employer. But many still do not have the UAN required to withdraw their money. In this case, by using other methods you can withdraw your PF amount without a UAN.

Know how you can withdraw Employee Provident Fund balance without UAN:

Broadly, you can withdraw your EPF either by submitting a physical application for withdrawal or through an online application. However, to do it through an online application, you will need an activated UAN (Universal Account Number), which should be linked with your Aadhaar, PAN and bank account. Following the old procedure, you can withdraw your Provident Fund (PF) money even if you do not have your UAN number.

For submission of the physical application, you need to download the Aadhaar-based new composite claim form or the non-Aadhaar composite claim form. Then you need to fill the new composite claim form and submit your PF withdrawal application directly to the regional PF office without the attestation of an employer.

However, in the case of the non-Aadhaar composite claim form, you need to fill it up and get it attested. This identity attestation is required as the PF office wants to avoid fraud and make sure the right person is applying for withdrawal. Your composite claim form needs to be attested either by any bank manager, a Gazetted Officer or a Magistrate. You can then submit it in the respective jurisdictional EPFO office.

How much can you withdraw?

You can choose to either withdraw your EPF money completely or partially. EPF withdrawal can be done during the course of the employment or after retirement by the employee. To completely withdraw the money, you can either do it when you retire or if you remain unemployed for more than 2 months. You can also completely withdraw the money while switching from one job to another.

Partial withdrawal of the EPF amount can be done under certain circumstances. For instance, you can partially withdraw up to around 50 per cent of your EPF money in case of marriage, education, and purchase of land or constructed house.

Source – Financial Express

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