Retirement fund body EPFO launches one page EPF claim withdrawal form
Highlights:
1.
For EPF subscribers whose Universal Account Number (UAN) is linked to
their Aadhaar and bank account number, they can approach the EPFO
directly for claims, bypassing the employers
2. In case of full
withdrawal from EPF accounts, subscribers are required to mention only
their names, registered mobile number, UAN, Aadhaar number, date of
joining and leaving the company
3. For partial withdrawals from EPF accounts, subscribers are not required to submit extra documents
With
an aim to provide withdrawal ease to its EPF subscribers, retirement
fund body Employees' Provident Fund Organisation(EPFO) has started a
simplified one page claim withdrawal form, The Hindustan Times reported.
Employees'
Provident Fund (EPF) allows withdrawal if subscriber is unemployed for
at least two months or partial withdrawals for events such as medical
emergencies, children’s education or buying a house, cited report on
Monday.
For EPF subscribers whose Universal Account Number (UAN)
is linked to their Aadhaar and bank account number, they can approach
the EPFO directly for claims, bypassing the employers, it said.
Earlier,
EPF subscribers had to fill up form 19 for complete withdrawal, form
10C for pension fund scheme certificate to retain membership of
Employees’ Pension Scheme or to claim withdrawals, and form 31 for
partial withdrawals.
Now, with the EPFO's introduction of the new
form called the composite claim form all forms have been merged into
one. It has launched two types of EPF withdrawal forms- Aadhaar and
non-Aadhaar forms.
The Aadhaar-based composite form is meant for
individuals who have activated their UAN and linked it with their
Aadhaar and bank account number, and whose details are embedded in the
UAN portal, the news report said.
According to the report, in case
of full withdrawal from EPF accounts, subscribers are need to mention
only their names, registered mobile number, UAN, Aadhaar number, date of
joining and leaving the company.
Moreover, for partial
withdrawals, there is no longer need of extra documents. Subscribers
have to mark the purpose for which they need the money and how much.
Sign the form, attach a cancelled cheque and then the subscribers can go
ahead.
The non-Aadhaar form needs details of EPF subscribers such
as date of birth, father's name and bank account details. It has to be
signed by subscribers and their employers.
The report citing the new form further stated that for partial withdrawals subscribers do not have to submit proof.
For
instance, if partial withdrawal was for a wedding (of self or
children), EPF subscriber had to give supporting documents such as the
wedding invitation card. In the new form, subscriber's signature is
enough. But there is a disclaimer at the bottom which states that if the
funds are used for any other purpose, the subscriber is liable to
return the money with penal interest.
But if partial withdrawal is
for a medical emergency, subscriber still need to submit proof like
medical certificate and certificate by the employer that employees'
state insurance (ESIC) facility is not available to the member, it
added.
EPFO plans to launch an online facility from May this year
for withdrawals, but this can only be used by individuals with Aadhaar
and bank account-linked UAN, cited the report.
