How to Withdraw Pension Contribution Online: Withdraw EPF & EPS Easily

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Sometime back EPFO announced the introduction of a facility to withdraw pension contribution online. Let us look at the procedure and terms of the online EPF withdrawal facility in detail.

Until now, applying for withdrawal has been a tedious task. The process involved physical applications to transfer from one authority to another. Typically, this entire process took approximately 30 days.

However, EPFO has been planning for a long time to undertake this facility. Now the EPFO issued a press note on the same.

You can complete the entire process online and you need to negotiate neither with the employer nor with the EPFO field office to submit the claim online. The claim transferred by you will flow softly to the EPFO database where it will be processed and credited to the member’s bank account.

You do not need to provide any supporting documents, giving priority to the online EPF part withdrawal case. If you are applying online, advance claims will be taken as self-declaration to give priority.

Who can withdraw pension contribution online?

There are some conditions for using this facility to withdraw EPF and EPS online. They are given below.

  • You must have a UAN card activated.
  • You should link Aadhaar to EPF.
  • You have to use the same mobile number which is linked to your Aadhaar. Because EPFO will send you OTP (One Time Password) to authenticate the claim process online.

Also,

  • Your bank account with the IFSC code must be linked to the EPFO database.
  • The Permanent Account Number (PAN) should be linked to the EPF Final Settlement claims in the EPFO database if it is under 5 years of service.

If both these conditions are satisfied, then you can withdraw EPF and EPS online.

What kind of EPF claims can be withdrawn online?

  • You can withdraw online your EPF amount.
  • You can online withdraw your EPS (Employee’s Pension Scheme) amount.
  • You can use this platform for partial or advance withdrawal of EPF online.

How to withdraw EPF and EPS online?

How to withdraw EPF and EPS online, below are the steps are as follows:

So far, the information is limited. Therefore, I will share the information available at this time. I will update it after it goes live on the EPFO portal.

• Login to the UAN portal.

• Check that the KYC and service displayed against your UAN are correct.

• Choose which option do you want to withdraw, like EPF withdrawal, EPS withdrawal, or Partial or Advanced EPF withdrawal.

• Once you submit the request, for authentication purposes, the OTP will be sent to your Aadhaar based registered mobile number.

• Verify the same by entering OTP.

• After that submit for withdrawal.

The process of withdrawing EPF and EPS online is now available and the explanation of the process is given below.

Step 1 – Login to EPFO Unified Portal for Members.

Step 2 – Then on the homepage of Unified Portal, choose the option “Online Services” tab. Here, you can withdraw EPF and EPS online and also check the status of the claim online.

This is the entire process to withdraw pension contribution online. It is claimed that a settlement will be reached in a few hours. Let’s hope for such a great journey.

The post How to Withdraw Pension Contribution Online: Withdraw EPF & EPS Easily appeared first on informalnewz.



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