Introduction:

The Employees’ Provident Fund (EPF) is a vital component of a salaried individual’s financial security, ensuring a stable retirement and financial stability during emergencies.

Understanding how to check and withdraw your EPF balance is essential for every employee. In this blog, we will walk you through the step-by-step process of checking your EPF balance and guide you on the withdrawal process, shedding light on the necessary rules and regulations.

Part 1: Checking Your EPF Balance

1.EPF Account Number and UAN:

Your EPF account number and Universal Account Number (UAN) are the keys to access your EPF details online. Your employer should provide you with these numbers when you join a company. UAN is a unique 12-digit number that remains constant throughout your career.

 2.Online EPF Portal:

Visit the official EPFO (Employees’ Provident Fund Organisation) website or the unified member portal to check your EPF balance. Log in using your UAN and password to access your EPF passbook, which displays your account details, including your current balance.

3. Missed Call Service:

If you have linked your UAN with your mobile number, you can check your EPF balance by giving a missed call to the designated EPFO number. You will receive an SMS with your account details, including the balance.

4.SMS Service:

EPFO provides an SMS service to check your EPF balance. Send an SMS from your registered mobile number in the prescribed format, and you will receive your account details, including the balance, via SMS.

Part 2: EPF Withdrawal Process

  1. Eligibility for Withdrawal: EPF withdrawal is permitted under specific circumstances, such as retirement, resignation, or emergencies like medical treatment, home purchase, or education. Ensure you meet the necessary criteria before proceeding with the withdrawal.
  2. Online Withdrawal Process: For a seamless withdrawal experience, EPFO has introduced an online withdrawal facility. Log in to the EPF portal using your UAN and password, and select the appropriate withdrawal form based on the purpose of withdrawal (Form 19 for final settlement, Form 10C for pension withdrawal, etc.). Fill in the required details, attach supporting documents, and submit the form online.
  3. Offline Withdrawal Process: If online withdrawal is not available for your specific circumstance, you can opt for the offline process. Obtain the relevant withdrawal form from your employer, complete it with accurate information, and submit it to the nearest EPFO office along with the necessary documents. The amazing EPF Calculator can help you with all the easy calculations online.
  4. TDS on EPF Withdrawal: TDS (Tax Deducted at Source) may apply to EPF withdrawals depending on the amount and the period of the EPF account. If you meet certain conditions, such as having PAN and no income tax liability, you can submit Form 15G or 15H to avoid TDS deduction.

Conclusion:

The Employees’ Provident Fund is a valuable retirement savings tool that provides financial security to employees throughout their professional lives.

By understanding how to check your EPF balance through the online portal, missed call service, or SMS, and familiarizing yourself with the withdrawal process, you can make informed decisions about your EPF savings.

Remember to adhere to the eligibility criteria for withdrawal and consult with your employer or EPFO authorities for any specific queries or concerns. Properly managing your EPF account ensures a secure and stable financial future.

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