Saturday, 10 March 2018

How to get your PF amount online?

Employee Provident Fund Scheme(EPFS) is a governement scheme where the employees contribute a small portion of their remuneration i.e. 12% of their basic pay every month. A matching amount is contributed by the employer. 

Such contribution, together, form a corpus. This is to be used to fund the employee’s retirement. EPF withdrawal by employees can however be done earlier itself i.e. during the course of their employment.

Government has found a way to fasten-up and make Providant Fund dealings, an user freindly online service. Most recent changes like introduction of UAN number and submitting claim online has made PF applicant a quicker and efficient way for getting their PF amount. 

EPFO introduced a composite claim form for submitting withdrawal requests, and did away with the need to submit supporting documents and certificates for partial withdrawals. 

This has made the turnaround time for process from 20 days to 10 days.  Below are the things you have to do to claim your PF amount online.

1. Activate/Create your own UAN(Universal Account Number). Ensure, the mobile number updated is in use and handy.

2.  Feed KYC - Aadhaar card details 

3. Seed your bank account details, please be assured that the claimed amount reaches this account when sanctioned.

4. If you have not been EPFO member for atleast 5 years, you also need to update your permanent account number(PAN).

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