Many people may be aware about putting all of their money directly into their PF account, with an extra amount of funds which they can use in any emergency. To address this issue, the Employee Provident Fund Organization (EPFO) has introduced EPF form 31. This form allows employees to take out money from their Employee Provident Fund (EPF) account with terms and conditions. The funds from the EPF account are savings options for retirement and under the conditions that employees and employers deposit an equal amount. It is also possible to save certain earnings with the EPFO.
The individuals can use EPF form 31 claim to withdraw their EPF funds partially or in full only under certain circumstances. They can also check EPF claim status under process form 31 online. If any individual wishes to withdraw funds partially from an EPF account, they will need to fulfill a few prescribed conditions and can only do so under special circumstances.
Key Takeaways
- EPF form 31 is utilized to file an online claim for partial withdrawals of funds from the EPF account. EPF is a government backed savings scheme, so it provides guaranteed security of the investment.
- In the EPF scheme, an employee is required to contribute a portion of their basic pay each month.
- The employees can also choose to withdraw from the saved amount in their EPF during their employment period.
- Due to COVID-19 crisis, EPFO also allows the employees to withdraw EPF funds to fulfill COVID-19 requirements.
What Exactly is EPF Form 31?
EPF form 31 is widely popular as it is an EPF advance form. Typically, it is used for partial withdrawal of PF funds or requests for advance withdrawals from the employee’s provident fund account. The Employees are not allowed to withdraw money from their EPF accounts if they need to. There are some specific rules regarding EPF withdrawal. Also, the employees must know that the EPF form 31 claim status is possible only in specific circumstances. It is an easy process to check EPF claim status under process form 31 online.
It is possible to fill the form 31 to claim EPF online or offline. If an individual applies offline, they must fill the details manually on the form. And if an individual plans to apply online, the details filling process is automatic. The employees must register their UAN (Universal Account Number) to avail of online services.
Did You Know?
The facility of partial withdrawal in EPF scheme is applied to the employees who have been continuously contributing to the fund for a specific duration. It must be noted that the eligibility criteria would differ based on the circumstances of withdrawal.
Understanding Declaration in Form 31
PF claim form 31 is used to make a declaration for partial withdrawal of an individual’s EPF corpus that has been otherwise reserved for the purpose of retirement. It is very important to note that the partial withdrawal from EPF is allowed only on specific conditions such as repayment of loan, medical emergencies, child’s education, child’s marriage, etc. However, certain eligibility conditions should meet in order to be eligible for the application of such partial withdrawal.
The EPF form 31 serves as a proof of the fulfillment of the purpose of partial withdrawal and should be fitted and signed duly by an employee. The sections of form 31 need to be filled in by the employer as well as the EPF commissioner, apart from the details filled in by the employee himself. It is very important that the information provided in the form 31 is up to date and stands true, and should be submitted along with the relevant documents required.
Steps to Download Form 31
You can download PF claim form 31 by following the below steps.
- Visit the official website of EPFO.
- Log in to the portal as you enter your details like the UAN (Universal Account Number) and password.
- Go to the “Online Services” section and select “Claim”.
- It will open a new page wherein you will be asked to enter your details such as name, address, date of birth, PAN, Aadhar number, date of joining company and mobile number.
- After adding details, click on “Proceed for Online Claim”.
- On the next page, select “PF Advance (Form 31)” from the dropdown menu.
- Select your reason for taking the withdrawal and enter the amount you need.
- Sign the disclosure that appears, and check the box saying “Get Aadhar OTP”.
- Enter the OTP that you have received on the registered mobile number and click on “Validate OTP and Submit Claim Form”.
Steps to Fill Form 31
As you have downloaded online claim form 31, you will be required to fill the details yourself. The remaining details will be filled by your employer and the EPF commissioner.
Employee details:
- Mobile number
- Name and address
- Father’s name or Husband’s name (in case of married women)
- Purpose of advances
- PF account number
- Monthly basis income and allowance
- Full postal address
- Signature of an employee
- Signature of an employer
- Mode of remittance
- Bank account details
- Date of joining the company
- Advance stamp receipt
Employer details:
- Certification of the employer
- Signature and designation along with the stamp of the establishment
- Enclosure
EPF commissioner details:
- Section
- Account Number
- Mode of remittance
- Fund of reimbursed
- Signature of the accounts officer
Check EPF Claim Status Under Form 31
You will have to follow the given steps to check the EPF form 31 claim status.
- Go to the official website of EPFO.
- Log in to the portal by entering your UAN and password.
- Click on “Sign In”.
- Select the option “Track Claim Status” under “Online Services”.
- From the drop down menu, select the location of your respective PF office.
- Once you do that, you will be able to see the code of your PF office and the region code on your screen.
- Enter the establishment code which you will be able to find on your pay slip.
- Enter the 7 digit account number and click on “Submit”.
- You will be able to view the EPF claim status under form 31.
Conclusion
The members must fill-up the EPF form 31 to claim partial funds in the EPF account. The loans and advances taken directly from the EPF account can help the members in meeting different financial obligations, particularly in the medical emergencies. Form 31 is one of the best options that can simplify the process of saving without worrying about emergency funds. It is also very easy to check EPF claim status under form 31 online. Normally it takes a couple of weeks to process the claims and remit funds.
Frequently Asked Questions (FAQs)
The amount that an employee can withdraw from their PF corpus depends upon their reason for withdrawal, and the time period that they have been in service.
Once an employee has applied for PF withdrawal and submitted form 31 for EPF claim, they are not allowed to cancel their application. However, they can contact the EPFO regional office in case of urgent situations.
Normally it takes at least two weeks for the application to be verified and the funds be transferred to the bank account of an employer.
The employees can withdraw their PF 2-3 times on a non-refundable basis, at a minimum gap of 6 months between the loans. However, they can withdraw once for one specific reason.
The withdrawal of 100% PF amount is allowed after 2 months of unemployment. EPF withdrawal is exempted from tax but under certain conditions. The tax exemption on EPF is only permitted if an employee contributes to the EPF account for five years continuously.
Read more about EPF Transfer.