Once the registration process for EPF Account is done, one would need access to EPF passbook, transferring the EPC account, EPF withdrawal process, which are detailed out in this article.
How to Access EPF Passbook
EPF passbooks include information about members and their employers’ contributions, as well as establishment IDs and names, members’ names, office names, employee and employer shares, and EPS contributions.
EPF members can download their passbooks online by visiting the EPF website.
A Guide for Checking EPF Balance
By following these simple steps, a member can check the EPF balance in their account online:
- Check out the EPF website
- On the “Our Services” page, click “For Members”
- Click on “Member Passbook” to access your information
- Now you can login to your EPF account with your “UAN”, password, and captcha code
- You can view your passbook by selecting the “Member ID”
- You will be able to view the complete details of your passbook in the document.
EPF Transfer Online: How to Do It
- By using your UAN and password, you can access the EPFO members portal
- Create a transfer request online by selecting ‘Transfer Request’ under ‘Online Services’ on the home page.
- This will open a dashboard displaying all your personal information. You will need to verify all the details including your DOB, EPF, and date of joining in order to complete the process of claiming your benefits.
- After verifying, click Step 1 and select past or present employers. Then, enter the contact information of the previous employer.
- Once you submit the details, an OTP will be sent to you. After authenticating your identity by entering the OTP, the request will be submitted and an online form will be generated. The form must be signed and sent to your current or previous employer.
- EPFO Office will process your claim as soon as the employer digitally submits the claim after verifying your employment details with EPFO, as well as getting an online notification about the transfer request. EPFO Office will process your transfer request after the employer digitally submits the claim to EPFO Office.
- Your EPF transfer claim status can be viewed under the ‘Track Claim Status’ menu, which is under the ‘Online Services’ menu, once you have submitted the request.
In addition to transferring accounts online, one can also choose to make all the calculations related to EPF via online, by using an EPF Calculator 2022.
Inoperative Accounts – Activation
If an account has not been contributed in over 36 months, it is considered inoperative or dormant. This usually happens when a member does not transfer the old account to his new employer and tends to forget about the previous contributions. Transferring them to a current EPF account is as easy as following the steps above, or withdrawing them using a UAN number is as easy as following the steps above.
What Are the Circumstances in Which EPF Can Be Withdrawn
In certain circumstances, individuals can withdraw either a partial or a complete amount from the EPF.
Below is a list of some of these circumstances in which individuals may withdraw all of their EPF:
- Over a period of two months, if they remain unemployed.
- During a career change or in between jobs, but longer than two months without a job is acceptable.
Among the circumstances under which individuals can partially withdraw EPF are as follows:
- In preparation for a wedding.
- Educational institutions of higher learning.
- A house or land is built or purchased.
- Getting a home loan repaid.
- An investment property that needs to be renovated.
How Does the EPF Withdrawal Process Work?
Members of EPF India can withdraw their EPF offline or online by submitting withdrawal applications.
Submitting Your Application Offline
A composite claim form needs to be filled out and submitted to the EPFO office under the individual’s jurisdiction along with an employer’s attestation.
Submit Your Application Online
- In order to obtain a Universal Account Number (UAN), individuals must be in possession of one.
- As well as the UAN, the mobile number used to activate it needs to be active.
- The UAN must be linked with Aadhaar, in addition to the PAN and the IFSC code of the respective bank.
- They then need to log in to the UAN online portal after ensuring all prerequisites are met.
- KYC details must be verified for each individual, and then instructions must be followed.
It is important to note that the Employee Provident Fund is primarily a retirement-oriented scheme. Accordingly, people should avoid premature withdrawals if possible. Hope, this article cleared all of your doubts regarding EPF Account basics.