New EPFO subscribers grew by over 41% in April of 2022. This means that there are millions of Indian workers who are new to the system and need helpful insights regarding how to access their EPFO account and how to make an EPFO online claim.
Making an EPFO claim online is simpler than you might think. However, not everybody is eligible for EPF withdrawal immediately. There are rules and limits that you’ll need to familiarize yourself with.
In this article, we’ll walk you through the steps involved in filing a claim online.
What Is an EPFO Online Claim?
The Employees’ Provident Fund Organisation or EPFO is a statutory body that manages the retirement savings of employees in India. This is important to know if you’re a worker in India and want to add to, withdraw from, or access your pension.
This is where the EPFO online portal comes into play. One of the benefits of being an EPFO member is that you can make online claims for various benefits, such as the withdrawal of funds, transfer of funds, and so on.
While there are steps that we’ll get into a bit later, you can typically make an EPFO online claim by logging into the EPFO website and going to the Claims section. There, you’re able to select the type of claim you wish to make and fill out the necessary details.
After they process your claim, the relevant amount will be transferred to your account. With this online portal, the entire claims process is simple and convenient, ensuring you can receive your benefits quickly and easily.
Why Would You Make an EPFO Online Claim?
If you have been contributing to the EPFO throughout your working life, you can make an online claim for your retirement benefits. Not quite sure why you might need to make an EPFO online claim? In some contexts, the word “claim” hints at a problem, but that’s not the case here.
The EPFO has made it easier for members to claim their benefits by offering an online claims portal. There are several reasons why you would want to make an online claim for your EPFO benefits.
First of all, by making an online claim, you can ensure that your claim is processed quickly and efficiently. The EPFO will have all of your records on file, and they will be able to quickly verify your eligibility and process your claim.
In addition, by making an online claim, you can be sure that all of the necessary documentation is in order. This will save you time and hassle when it comes to getting your benefits.
Another reason to make an online claim is that it allows you to keep track of your claim status. You can log into the EPFO website at any time to check on the status of your claim. This way, you will know exactly when you can expect to receive your retirement benefits.
Finally, by making an online claim, you can be sure that your personal information is secure. The EPFO website is password protected, so only you will have access to your account. This will give you peace of mind knowing that your information is safe.
Overall, there are many reasons why you would want to make an online claim for your EPFO benefits. By doing so, you can save time, hassle, and worry when it comes time to access your hard-earned pension.
EPF Withdrawal Rules: When Can You Make a Claim?
While the process is straightforward, you can’t make a claim anytime you want. EPF withdrawals are subject to certain rules and regulations, depending on the age of the employee and the purpose of the withdrawal.
However, EPF withdrawals are generally allowed for several reasons, including:
- Retirement (this is a regular withdrawal and doesn’t count as a special case)
- Medical emergencies
- Purchasing a home
- Repayment of a home loan
- Home renovations
- Getting married
Let’s briefly walk you through the rules and restrictions for each type of withdrawal.
Purchasing a Home
It’s important to note that this also applies to building a home. If you are building or purchasing a home and have been continuously employed for at least five years then you can make a withdrawal claim.
The only people eligible to make this type of EPFO online claim, however, are you and your spouse. Your children or other family members cannot make a claim to purchase or build a home.
Likewise, there is a maximum withdrawal amount. This is up to 24 times your pay. If you are building and purchasing then it can be 36 times your monthly salary.
If you have already purchased your home but would like to renovate it then you can cover the costs of that renovation with money from your EPFO account.
In this case, you need to have been working continuously for at least five years from the completion date of when the house was built. You or your spouse can request this withdrawal and it can be up to 12 times your monthly payment.
Repaying a Home Loan
Finally, when it comes to home payments, you can also use EPFO money to repay a home loan. This requires you to have been in the workforce for the least amount of time, which is only three years.
The withdrawal limit is also the highest. You can request up to 90% of your EPFO balance to repay this loan. Similar to the other home-related withdrawal rules, your spouse can also request this too.
To be able to file an EPFO claim online and apply for an immediate withdrawal to use for wedding expenses you have to have worked continuously for at least seven years. However, this type of early withdrawal will incur interest.
For wedding expenses, you’re able to request up to 50% of your entire contribution plus interest. In this case, you can make this request as can your siblings or children.
EPF withdrawal rules may seem complex, but they are designed to protect your hard-earned retirement savings. Keep this in mind when you go to withdraw money from your account. The idea is that you leave it in there as long as possible to tide you over until your retirement years.
There is no limit on how long you need to have been in the workforce to make a claim to cover medical treatments or expenses. You, your spouse, your children, or even your parents can make this claim.
You will have to pay interest on this money, though. You can withdraw up to your entire share plus interest. Or, you can withdraw six times your monthly pay, whichever is less.
EPF Claim Forms: What Documents Do You Need?
What kinds of EPF claim forms do you need to complete this process? It depends on the type of claim you’re making, but typically you’ll need:
- Proof of identity
- Proof of address
- Personal information (date of birth, father’s name, etc.)
- One blank, canceled cheque (this is so that they can see your IFSC code and account number)
- The most recent bank account statement
- Two revenue stamps
You will submit all of this along with your Composite Claim form.
EPF Withdrawal Online Procedure
To begin the EPF withdrawal procedure you’ll need to ensure you have your EPFO online claim login on hand. You will also need to head over to the Member Portal. Then, follow these steps:
- Enter your UAN, password, and the CAPTCHA
- Once you’re logged in, go to the Online Services section
- Select Claim (Form – 31, 19 & 10C)
- Once your data comes up, you’ll have to enter the last four digits of your linked bank account number
- Click Verify
- Select Yes from the dropdown menu provided
- Select Proceed for Online Claim
- Choose PF Advance (Form 31)
- You will have to enter the amount you wish to withdraw, your employee address, and the purpose for your withdrawal (if you aren’t eligible for a type of withdrawal then that option will be highlighted in red)
- Submit your scanned documents
Now, all you have to do is wait for your employer to approve your request. Once you make a claim for one of the above purposes, you can expect to receive your EPF payout within 10 days of making a claim.
Did You Know :
Your PF claim can be rejected after three unsuccessful attempts. Also, your member ID would be blocked for online submission of claims.
How to Check your EPFO Online Claim Status
If you need to check your EPFO online claim status then simply log into the EPFO website. Click on My EPFO. Then, click on Track Claim Status.
On the next page, you will need to enter your claim number and select the Get Status option. The EPFO online claim status will be displayed on the next page. If you have any queries, you can contact EPFO’s helpdesk.
Learn More About Your EPFO Account
Learning how to make an EPFO online claim is only one part of managing your EPFO account. There are a lot of other things you can do once you’re logged into the member’s portal.
To learn more about everything related to your EPFO so that you can harness the benefits of this online portal and grow your retirement, read through all of our other EPFO articles.
|Read more about EPF:|
|EPF Balance Check||EPF Correction Form||EPF Passbook|
|EPF Calculator||EPF Interest Rate||EPF Pension|
|EPF Contribution||EPF Status Check Online||EPF Premature Withdrawal|
|Read more about UAN:|
|Read more about EPFO:|
|EPFO E-Sewa||EPFO Online Payment||EPFO KYC Online Update|
|EPFO Establishment||EPFO Member Portal||EPFO Registration Process|
|Read more about EPF Forms:|
|EPF Form 10C||EPF Form 19||EPF Withdrawal Form 31|
As per the rule, you can only avail 100% EPF withdrawal if you are unemployed for 2 months.
A PF account holder can make a withdrawal claim online equal to 75% of their net PF balance or three months of basic salary plus DA, whichever is lower.
Yes. You can withdraw your PF while working under certain provisions. Such PF withdrawals are called as ‘advances’.
There is no such strict provision to withdraw your PF immediately. Account holders can keep their amount in the account to avail interest adding on to their PF value.
Usually, EPFO settles the PF balance withdrawals within 5-10 working days.