Savings Schemes
by 5paisa Research Team Last Updated: 2022-11-21T17:36:58+05:30


Provident Fund, also referred to as Employees Provident Fund, is a mandatory retirement cum savings scheme. It is applicable to all the employees of an eligible organisation. This scheme enables the employees to fall back on the corpus of this post-retirement fund. Recently, the PF withdrawal rules have been revised to provide easy access to subscribers to their PF funds.

Here, we have listed a few PF withdrawal reasons, eligibility and PF withdrawal limit.



Withdrawal Limit

Marriage of self or family family member or higher studies of children

Minimum 84 months of service

Up to 50% from the EPF account

Housing loan for purchasing plot, flat or construction or renovation of house

Minimum 60 months of service

Up to 36 months of their basic along with DA/ the total cost for house construction/ the total number of employer and employee shares along with interest

Natural Calamity/ Medical Expenses/ cut in electricity in establishment/ closure of factory/ Purchase of equipment by the physically handicapped

Zero minimum service tenure

Up to 6 months of their basic and DA/ the entire contribution

Just one year before retirement

Must be above 54 years of age

Up to 90% of their EPF amount


New EPF Withdrawal Rules 2022

The Employees Provident Fund Organisation account contains all the contributions from both employer and employee. However, you should note that you cannot suddenly withdraw money from your EPF account.


Here are 10 Important Rules About EPF Withdrawal:

1.    The EPF withdrawal rules permit you to make a partial withdrawal from your EPF account in case of an emergency. The PF withdrawal reasons include house construction or purchase, medical emergency, higher education, etc. You should note that partial withdrawal is subject to limits depending on the reason. Besides, a PF withdrawal online application is also permissible for the account holder.
2.    One cannot withdraw any money from the EPF account while they are still employed. Since EPF is typically a long-term retirement savings scheme, you can withdraw money only after retirement.
3.    When a person faces unemployment before their retirement due to retrenchment or lockdown, they can withdraw the EPF corpus.
4.    While one can withdraw the EPF corpus only after retirement, early retirement isn’t considered until you are 55 years of age. The EPFO allows 90% withdrawal of the EPF corpus just one year before the retirement date. This EPF withdrawal rule states that the person withdrawing money from the EPF account mustn’t be less than 54 years.
5.    The revised rule of PF withdrawal allows only 75% withdrawal of the EPF corpus after one month of unemployment. And after acquiring new employment, the remaining 25% can be transferred to a new EPF account.
6.    To withdraw money from the EPF account, subscribers must declare unemployment.
7.    The withdrawal of the EPS corpus obtains tax exemptions under specific conditions. To receive tax exemption on EPF corpus, the employee must contribute to their EPF account. The contributions must be made for five consecutive years. And if there is ever a break to the contribution, then the EPF amount is taxable. In a nutshell, the whole EPF amount for that financial year will be considered taxable income.
8.    The old PF withdrawal rules state that 100% EPF withdrawal is permissible right after two months of unemployment.
9.    Employees are no longer required to wait for the EPF withdrawal approval from their employer. The PF withdrawal process can be done directly from the EPFO. But for this, the employees’ Aadhaar and UAN must be linked to the EPF account and approved by the employer. You should also note that PF withdrawal status can also be checked online.
10.    If there is any premature withdrawal of the EPF corpus, then tax is deducted at the source. But if the entire amount is lower than Rs. 50,000, then TDS is not applicable in such cases. You should remember that 10% TDS is applicable if one provides PAN with their application. But if they fail to provide their PAN, they need to pay 30% TDS with an additional tax. However, TDS can be avoided by filling out the declaration Form 15H/ 15G

Steps for EPF Withdrawal Online

Employees are permissible for PF withdrawal claims on the portal of EPFO members. If you are wondering how to apply for PF withdrawal, here are a few steps that you need to follow:

1.    You need to log in and visit the EPFO member portal.
2.    Now, you need to navigate and select the option “For Employees” under the tab “Our Services.”
3.    Next, click on the option of “Member UAN/Online Service (OCS/OTCP).”
4.    After being redirected to a new webpage, log in to the portal by using your password, UAN, and Captcha Code.
5.    Under the “Manage” tab, select the “KYC” option.
6.    Navigate and find the section “Digitally Approved KYC” and check and ensure that all your KYC details are correct.
7.    Click on the “Online Service” tab from the top menu and proceed with the withdrawal.
8.    Click on the “CLAIM (FORM-31, 19 & 10C) option from the drop-down menu.”
9.    The “ONLINE CLAIM (FORM 31, 19 & 10C)” will be generated automatically.
10.    You need to enter your registered bank account's last four digits and verify.
11.    Post verification, a “Certificate of Undertaking” will be generated automatically. And to proceed, select the “Yes” option.
12.    Next, click on the option of “Proceed for Online Claim.”
13.    Select the “PF ADVANCE (FORM - 31)” option for online withdrawal.
14.    You need to select a reason for the claim from the drop-down options. You need to provide details even in the fields provided for employee address and the advanced amount.
15.    Before submitting your PF pension withdrawal form, make sure you mark the checkbox.
16.    You might need to upload a few scanned documents according to the nature of the withdrawal.
17.    Once the employer approves the PF withdrawal request, the specified amount will automatically be withdrawn from the EPF account.

The withdrawn amount will be deposited in your respective bank account. And once your claim is settled, you’ll receive an SMS alert on your registered mobile number.

Steps to Enter Exit Date and Withdraw Your PF Easily

Employees need to make an EPFO UAN login in order to change the exit date. For this, you need to enter your Unified Account Number along with the password. Nonetheless, you need to check whether the exit date is mentioned by clicking on the “Service History” section.
If you are wondering how to enter the exit date, you need to follow the steps below:

●    Step 1:

Input your Unified Account Number and password to log in to your UAN portal.

●    Step 2:

Click on the “Manage” option from the top panel and select the option “Mark Exit.”

●    Step 3:

Navigate and choose the employer from the drop-down option.

    Step 4:

Next, you will be redirected to a new page. Here, you will need to enter your date of birth, date of joining, and date of exit. Make sure you mention your exit date as mentioned in your registration letter.

Tax-Free Limit for PF Withdrawals

While making PF withdrawals, you can obtain tax breaks. However, this is applicable only if you’ve provided service for five consecutive years and then applied for withdrawal. In fact, this also determines the tax bracket to which you belong. Please note that tax or TDS is imposed on your money if you make a PF withdrawal before the termination of 5 years.

However, there are certain cases where your EPF withdrawals will not be levied tax. They include:

●    The entire amount of your PF is lower than Rs. 50,000.
●    If you have the need to withdraw funds for health issues or medical emergencies that cannot be avoided.
●    If you transfer your PF balance from a PF account to any other account.
●    If you withdraw the balance from your PF account by using a 15G or 15H Form.
●    If the business of your employer is withdrawn.

Online Grievances Portal for PF Withdrawal

To register any grievance regarding the services of EPFO, you need to visit the EPF grievance management system online. Here, you will be able to file a grievance, check the status of your complaint, send reminders, etc. You can also change your password and upload your grievance document.

Now, we will check out how you can register a grievance regarding the service of EPFO.

How to Register a Grievance?

As per the new EPF withdrawal rules, you need to follow these steps to register a grievance:

●    Step 1:

You need to visit the EPFO Grievance Management System, navigate and click on the “Register Grievance” option.

●    Step 2:

The grievance registration form will be displayed instantly. You will need to fill the grievance form very accurately with valid credentials in all the required fields.

●    Step 3:

Next, you will have to select your status from the drop-down option.

●    Step 4:

And finally, you will have the need to key in your PF number, your establishment, the address of the establishment, contact details, name of complaint, grievance details, etc. Also, before you can submit your grievance, you need to enter the provided Captcha Code for security reasons.
In the next section, you will get detailed insights into the types of EPFO grievances.

Types of EPFO Grievances

You can register an EPFO grievance whenever you encounter any issues with the following:

●    Scheme Certification (10C)
●    Misplacement of cheque or return of cheque
●    Settlement of your pension (10-D)
●    Transfer of your PF accumulations (F-13)
●    Provision of PF balance or PF slip
●    Others

While you can register grievances online, you have the privilege of checking the status of your grievance on the portal. If your complaint has not been resolved within the stipulated time, then you can easily send a reminder to them. For this, you will need to enter your grievance registration number and password.

Types of PF Withdrawals

The new EPF withdrawal rules enable the subscribers to make three different types of PF withdrawals on the EPFO member portal. They include:

●    Partial PF withdrawal
●    PF Final Settlement
●    Pension withdrawal benefit

As a subscriber of the Employee Provident Fund, you can make all the withdrawals listed above. However, it can only be done on the member portal of EPFO. And if you have seeded your Aadhaar card details with your UAN, you require an attestation from your employer. Only then will you be able to make a PF withdrawal.

Also, all types of PF withdrawals come with a completely different set of rules. You will be introduced to the PF withdrawal rules in the following section.

PF Withdrawal Rules

The amount of EPF is basically meant for saving for the future post-retirement. The EPFO ensures that all employees avoid making withdrawals from their PF corpus and continue their enrollment in the scheme. To ensure this, EPFO has listed a few EPF withdrawal rules. Some of them include the following:

●    The PF withdrawal would not attract tax if the employee was unemployed or terminated.
●    Any withdrawal that is made before completing five years is subject to tax. But those withdrawals made after the completion of 5 years of continuous service are exempted from tax.
●    Employees must facilitate the use of the Composite Claims Form for making final settlement claims or partial withdrawals.
●    EPF funds that are transferred towards the National Pension Scheme will not attract tax while making a withdrawal.
●    As per the new PF withdrawal rules, the accrued interest and the principal amount are subject to tax. This is applicable only if the employee makes a withdrawal before the completion of 5 years.

PF Withdrawal Procedure

The new PF withdrawal rules suggest that subscribers of the EPFO no longer require their employer’s permission to make withdrawals. All thanks to the newly introduced revised set of rules. Now, the subscribers are required to ensure that their Aadhaar information is seeded with their UAN.

Additionally, the EPFO has also released the Composite Claims Form. This can be used for requesting either a partial or complete withdrawal. As a subscriber of the EPF, you can seamlessly complete the entire withdrawal procedure online. This can be done either through the UAN site or the EPFO member portal.

If you find that your PF withdrawal has been under process for a long time, then there’s nothing to worry about. It takes around 5 to 30 days for your money to settle in your account for online transactions.

PF Withdrawal Claim Forms

You should note that the PF Withdrawal Claim Forms differ as per the employee's age, cause of claim, and employment status. These forms must be submitted for withdrawing the pension fund or the provident fund. Before the new PF withdrawal rules were inflicted, withdrawals were made through Form 19, Form 10C, and Form 31.

The forms mentioned earlier have been replaced lately by a Composite Claim Form. Basically, the forms that demanded the UAN of the employees have been replaced by Composite Claim Forms. Now, these forms require the Aadhaar data of the employees.

You already know that the PF claim form that requires to be submitted varies according to certain criteria. Please keep reading the next section to have a detailed insight into the different criteria.

Criteria for PF Withdrawal

Here, we have made a comprehensive listing of the various types of criteria for PF withdrawal:

●    When Employees Switch Their Job

●    When an employee switches jobs, they are very likely to transfer their EPF account too. For that, they need to apply for Form 13. But when an employee leaves an establishment and doesn’t join another, they can make a PF and pension fund claim. However, this can only be done by using the Composite Claim Form, either with Aadhaar or Non-Aadhaar.
●    An employee above 58 years who have completed ten years of eligible service can make pension claims through Form 10D. And to make a pension claim, they must use the Composite Claim Form.

●    When Employees are Still Under Service

●    The employees must submit the Composite Claim Form if they ever wish to take an advance from the PF account. And if they wish to finance their LIC policy through their PF account, they are required to submit Form 14.
●    Employees over 58 years of age need to fill out Form 10D to claim the pension fund. And after completing ten years of eligible service, they will be able to receive a monthly pension. Please note that the Composite Claim Form is required to be submitted if you’ve not completed ten years of eligible service.

●    When Employees Die While Being in Service

●    There might be such cases where the employee dies even before reaching the age of 58 years. Then, the heir, nominee, or beneficiary can use Form 20 and apply for the PF settlement. To acquire a monthly pension, they are required to submit Form 10D. And for the EDLI or Employees’ Deposit Linked insurance, they must submit Form 5IF.
●    If the employee has died after 58 years and completed ten years of eligible service, their nominees can make claims too. For PF withdrawal, they must submit Form 20; for EDLI amount withdrawal, they must use Form 5IF. And if they make claims for the monthly pension, they need to use Form 10D.

●    When Employees Become Physically Disabled and Leave Organisations

●    Employees can make a claim for a monthly pension by using Form 10D.
●    Employees are eligible to make a PF claim by using the Composite Claim Form (Aadhaar/ Non-Aadhaar)
●    Employees who haven’t completed ten years of eligible service and are above 58 can make pension and PF claims. And for this, they are required to use the Composite Claim Form (Aadhaar/ Non-Aadhaar).

●    When Employees are Deceased Post Retirement

●    The heir, nominee, or beneficiary of a deceased employee can make PF claims through Form 20. And for claiming the monthly pension, they are required to use Form 10D.
●    Even if the employee hasn’t completed ten years of eligible service after 58 years, the beneficiary can claim the pension fund. But for that, they are required to use the Aadhaar/ Non-Aadhaar Composite Claim Form.

Reasons for PF Withdrawal

You have the privilege of withdrawing money from your EPF account under certain circumstances. Here, we have listed some of the valid reasons through which you can easily make your withdrawal:

●    Marriage Purpose

You can withdraw money from your EPF account for marriage purposes. But for that, you are required to complete at least seven years of your service life. Some of the applicable cases in which you can withdraw money for marriage include:
●    Your child’s wedding
●    Your sibling’s wedding
●    Your own wedding

●    Medical Treatment or Medical Emergency

According to the new PF withdrawal rules, you can withdraw money from your EPF account for medical treatment. However, you can help with your withdrawal only if you meet certain criteria:

●    The period for hospitalisation must be more than a month.
●    If you or your relative is required to undergo any major surgery from any specific hospital.
●    If your loved ones or you are suffering from medical conditions and require immediate treatment.

●    Repayment of Existing Home Loan

If you have an already existing loan, you can repay the loan amount by withdrawing money from your EPF account. But if you wish to avail of this benefit, you must complete at least ten years of service.

●    Purchase of Property or House Construction

You are eligible to withdraw money from your EPF account for property construction, but there are a few rules:
●    You must complete at least five years in your service
●    The property you wish to purchase or construct must have your name, as no other combination will be entertained.
●    The maximum amount that you can avail from your EPF account is 24 times your monthly salary.

●    Repairs, Renovations, or Alterations to the Property

Renovation is undoubtedly a costly affair and can drain your savings. But you can always withdraw money from your EPF account. However, there are a few rules:
●    This facility can be availed only once in a lifetime.
●    You must complete at least ten years of service to avail of this facility.

●    Higher Education

If you or your children wish to study further, then you can withdraw money from your EPF account. Nonetheless, this advantage can only be availed for post-matriculation educational expenditures.

Other reasons for Withdrawing Money from EPF

Apart from the above-mentioned reasons for withdrawing money from your EPF account, there are other reasons too. Once you go through this section, you will be introduced to various other reasons for withdrawing money from the EPF account. Some of the other reasons include the following:

●    If you ever wish to reallocate or permanently move abroad.
●    If you have almost reached the age of your retirement.
●    If you have been unemployed for more than 60 days or two months straight.
●    Female employees have endless reasons for withdrawing money from their EPF accounts. They might have the need to leave their jobs due to marriage, pregnancy, childbirth, etc.

Limits of EPF Partial Withdrawal

The PF withdrawal limit does exist, and employees can make EPF withdrawals under certain circumstances, including:


Minimum Service

Withdrawal Limit


Home Loan Repayment

3 years

90% of PF balance

PF account holder and the spouse

Plot Purchase or House Construction

5 years

24 times the monthly salary for purchasing/ 36 times the monthly salary for purchase and construction

PF account holder and the spouse


7 years

50% of employee’s construction song with interest

PF account holder, siblings, and children

House Alteration or Renovation

5 years from construction completion

12 times the monthly salary

PF account holder and the spouse

Medical emergency and treatment

Not Applicable

6 times the monthly salary or employee’s share with interest (whichever is lower)

PF account holder, spouse, parents, or children


Requirements for PF Withdrawal

As per the new PF withdrawal rules, one can make a withdrawal without the attestation of their employer. To make the procedure of PF withdrawal seamless, it is important for subscribers to meet certain requirements. Some of the withdrawal requirements of PF are:

●    The PF subscriber is required to seed their Aadhaar card details along with their PF account.
●    It is important for the subscribers to ensure that their mobile number is linked to their PF account. They should also check and confirm that their UAN is active.
●    The subscribers are required to seed their PAN details before their EPF scheme for five years attains completion.
●    The bank account details of the subscriber must be integrated with the bank’s IFSC code. 

Rules Pertaining to EPF

Contributions of both employees and employers are added to the EPF. But you should note that the contributed portion doesn’t go exclusively towards the EPF. The funds further go towards administrative charges, Employees Deposit Linked Insurance, EDLI Administrative Charges, etc.

According to the latest PF withdrawal rules, you should keep the following in mind:

●    Employer Contribution Towards EPS

The contribution amount is 8.33% of the employee's basic salary, which includes a retaining allowance, dearness allowance, and food concessions.

●    Death Insurance Benefits

Under the EDLI, the beneficiaries are subject to receiving death insurance benefits. The minimum amount of this benefit has been increased to Rs. 7 lakh.

●    Insurance Coverage

The initial coverage amount under EPS is Rs. 15.56 lakh.

●    Changes to Pension Amount

The minimum monthly amount is set at Rs. 1000 and that of children and orphans is Rs. 250 and Rs. 750.

●    Alterations in the Threshold Limit

Only a minimum group size of 10 employees within an organisation is eligible for EPF contribution.

●    Employer Contribution Towards EPS

While the minimum salary amount has been altered, the employer contribution has been increased to Rs. 1250 per month.

●    Withdrawals

One can withdraw money from the EPF account through claim forms for financing an insurance policy.

When Can I Withdraw from the EPF Account

You can know the balance in your EPF account through the PF balance check number. So, you can easily withdraw from your EPF account if you have sufficient balance. But before you can make your withdrawal, you should note that there are two kinds of withdrawal:

●    Complete Withdrawal

You can completely withdraw the amount of your EPF when you retire. Also, this is applicable if you have been unemployed for over two months. But to make a complete withdrawal, you need to acquire an attestation from a gazetted office.

●    Partial Withdrawal

Subscribers are eligible to make a partial withdrawal from their EPF account under a few circumstances. They include home loan repayment, house construction, home renovation, medical treatment, marriage, etc.

Procedure for EPF withdrawal

Firstly, you should note that the procedure for EPF withdrawal can be conducted both online and offline. Here, in this section, we’ve discussed both procedures of PF withdrawal.

Online Procedure

●    Step 1:
First, you need to visit the UAN portal.
●    Step 2:
Next, you need to log in to the portal with your valid credentials and enter the captcha.
●    Step 3:
After that, you need to determine whether all details are verified or not. And all of it can be done through the KYC section in the ‘Manage’ tab.
●    Step 4:
Post KYC verification, select the “Claim (Form- 31,19 & 10C” option from the “Online Services” tab.
●    Step 5:
Once you’ve provided all the requisite details, click on “Verify.”
●    Step 6:
Click on the “Yes” option to sign the certificate.
●    Step 7:
Next, select “Proceed for Online Claim.”
●    Step 8:
Choose the type of claim that you require in the Claim form.
●    Step 9:
Select the option of “PF Advance (Form 31).”
●    Step 10:
Finally, you need to click on the certificate and submit the application.

Offline Procedure

●    Step 1
Download the Composite Claim Form (Aadhaar/ Non-Aadhaar)
●    Step 2
You should use the Composite Claim Form (Aadhaar) if you’ve entered your bank account details and Aadhaar number on the UAN portal.
●    Step 3
Next, you need to fill in and submit the form to the jurisdictional EPFO office without the employer's attestation.
●    Step 4
If your Aadhar number is not entered on the UAN portal, then there's nothing to worry about. You always have the privilege to use the Composite Claim Form (non-Aadhaar) If your value
●    Step 5
Once you’ve carefully filled the form with the requisite deals, submit it to the EPFO along with the employer’s attestation.

The Process to Withdraw the Employees' Provident Fund (EPF)

Let us now take a quick look at the old method of PF withdrawal. Here, we’ve listed a step-by-step guide:

●    Step 1
Firstly, you will need to contact the HR team of your previous employer to acquire Form 19 for EPF withdrawal.
●    Step 2
You can also download the form from EPFO’s website.
●    Step 3
You must fill in the employment details, IFSC code, PF account number, and all other bank account details.
●    Step 4
Next, you will be required to submit a cancelled cheque leaf of your EPF account.
●    Step 5
You need to submit the form to your employer.
●    Step 6

And finally, before the submission of the PF withdrawal form, the employer will attest to it.
In the next section, we will see how the procedures for withdrawal from your PF account have been revised.

Here, we’ve provided a step-by-step guide on the new procedure for making a PF withdrawal:

●    Step 1
Firstly, it is important for you to update your Aadhar Number through the UAN portal.
    Step 2
Next, you need to get your Aadhaar authentication and link it.
●    Step 3
Further, you are required to fill out the withdrawal form at the member portal of PPF.
●    Step 4
Finally, you will have to submit the form, and therefore you will receive your withdrawn money.

Documents Required for PF Withdrawal

Here are a few documents that you must keep handy while making a PF withdrawal:

●    Correct bank account details and information.
●    UAN or Universal Account Number.
●    Employee details
●    Personal information of Employees

So, anytime you make a PF withdrawal, you need to:

●    Provide only the correct bank account information.
●    Remember and submit all the correct bank account information.
●    Provide all employees' personal information, including their father’s name, date of birth, etc.
●    It is important for PF holders to keep the bank account in their name. This is because money cannot be transferred to a third party until the PF holder’s demise.

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Frequently Asked Questions

A few limits on advance PF withdrawal online are:
●    PF withdrawal for marriage purposes has a limit of 3 times.
●    PF amount can be withdrawn only once while purchasing a plot or flat.

Not necessarily. However, Form 15G/15H efficiently helps in saving one from TDS deduction while withdrawing EPF amount.

Yes, it’s important to provide the PAN details whenever subscribers are trying to make a partial withdrawal.

You can’t withdraw your EPF balance while working because EPFO is typically a long-term investment programme. This basically helps members build a retirement corpus.

Yes, you have the opportunity to make partial withdrawals from your PF only during an emergency situation. This might include medical emergencies, marriage, higher education, housing construction and renovation, etc.