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EPF Withdrawal

Specific rules are applicable to go for EPF withdrawal option. In usual cases any employee retiring from employment or ending job may claim for withdrawal for that whole amount of PF accrued till that time is calculated for withdrawal. One more option is to continue with the EPF account balance with the new organization upon joining that.

EPF Amount Withdrawal Procedure:

  • In the usual practice an employee can start claiming for EPF balance withdrawal from a previous organization in a time frame of 45-60 days post resignation which solely depends on companies concerned. It is therefore advisable to remain aware of the internal procedure of the company through obtaining thorough information about PF rules while resigning. Submit PF withdrawal to the concerned company which further processes it with the government authorities through all the required communication for withdrawal.
  • Obtain form 19 & form 10c or download it to begin the process. Such forms are available on the company portals as well. It can also be downloaded from the website of EPFO.
  • The next step is to provide bank account details of a nationalized bank for funds transfer. The form itself details about the SB accounts and addresses for transfer. Make sure to fill bank account number details and contact number carefully for flawless funds transfer. Funds are transferred into the account so are you alerted through mobile number registered. It is always important to update such information carefully. Do note that this process is important and must be done meticulously otherwise placing wrong information or incomplete form might lead to form return which would delay the process for another one and half months or more.
  • One more form has to be filled besides the PF application form which is an authorization letter for direct fund transfer into bank account itself. Such funds are sanctioned through cheque deposit hence it is necessary to furnish the details minutely while filling and submitting the form to EPF office.
  • It is advisable to keep a photocopy of all the forms filled for future reference. Once filled submit these forms to the office of previous employer or directly submit it to the PF office if company has such provision. It all depends on the company policies which differ from one to the other. A few companies operate from their own PF trust offices where forms can be directly submitted or else in the rest cases company offices receive such forms from employees and crosscheck them before final submission to PF India office on employee’s behalf.
  • Once forms are submitted your role ends. There is facility to communicate with the PF body to check for the developments occurring for that reference to the previous company is necessary. Do crosscheck with them in the next 2-3 months for updates in case funds transfer doesn’t happen till that period.

EPF India

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