The provident fund is a great concept that entails an employee with certain rights while duly protecting their savings, and It was established around 1952. So what happens when an employee leaves his job? How can he withdraw his pf after doing so? What’s the process? One of the best ideas would be to merge the pf accounts, of both the old employer and the new one you had just joined. But if you’re still wondering how to withdraw pf online after leaving your job, do read on.
The employment provident fund is a savings corpus that an employee can utilize to save part of his earnings. And on leaving employment, they can withdraw nearly 75% of the savings, provided they meet the unemployment criteria. According to the provident fund act, enacted by the Government of India, the employer uses the basic salary to deduct a small part, and the employer also contributes a similar amount. This amount is further saved in a provident fund account until the employee decides to withdraw the same after he or she becomes unemployed. That is essentially how a PF fund operates but read on to learn more about the withdrawal process.
It needs to be pointed out that while the PF amount will vary greatly by the time you retire and that the PF itself is subject to change, one of the things that are not bound to change happens to be the Universal Account Number. The UAN or the universal account number is a twelve-digit number and one that will remain the same until the EPF account is terminated. In addition, the provident fund office has a web portal that you can access to check the balance, find out how much your employer had contributed to your PF, and make a complete assessment before submitting a withdrawal form. So when it comes to ‘how to withdraw pf online after leaving a job,’ this is how you generally go about it.
The first thing that you need to do is to register yourself with the EPFO e-sewa portal. You need to enter the relevant information, including the UAN number, on the web portal. Register your profile if you have not done so yet. Once you have registered, set your password, check out the rest of the portal. The most important thing you need to do is check the claims page and check out the relevant forms, such as forms 31, 19, 10c, and 10d. You must check out all the relevant terms and conditions, see what applies to you personally. You also need to enter your Aadhar number ID and OTP, and once you have entered the OTP, your claims application will be submitted to the relevant authorities. Once the claims form has been submitted, it will be reviewed closely by the PF personnel. You must also mention the reason that you’re withdrawing your pf, and it needs to be believable.
This is essentially the process by which you can withdraw your pf once you have left your job. It needs to be pointed out that there are a few restrictions and rules that apply to all PF holders and such; you would be well advised to check out the same. Just remember that you may have to wait for a month or two after your last employment date before submitting your claims processing application. it also needs to be pointed out that the applications are often processed right away and soon.