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How to Withdraw Pension Contribution in EPF Online?

Employees are eligible to withdraw their EPF contributions after reaching their retirement age. Read on to know the hassle-free EPF pension withdrawal online process in detail!

Employee Provident Fund, popularly known as EPF, is an excellent retirement planning scheme that allows eligible employees to generate a corpus for their retirement period from their salary contributions. Apart from employees, employers are also required to make contributions towards the PF account of their employees.

Note that the funds saved in the EPF accounts are entitled to earn a yearly interest, which is fixed at the rate of 8.15% in 2022-23 FY.

After reaching the retirement age, employees can withdraw this fund as a lump sum amount or at regular intervals based on their preferences. Besides, premature withdrawal is also allowed under certain terms and conditions.

Keep reading to know the detailed process of EPF pension contribution withdrawal.

What is EPF?

Employee Provident Fund (EPF) or Provident Fund (PF) is a retirement planning scheme introduced by the Employee Provident Fund Organisation (EPFO) of India. Under this scheme, both employer and employee make mandatory contributions towards the EPF account of the eligible employee.

It is important to note that EPF is not a single scheme. Instead, it comprises three different schemes or components with different objectives as follows:
 

  • The first component of EPF is the accumulation of funds for your retirement. In simple terms, the contributions made by you and your employer are accumulated in your PF account and are subjected to an interest rate of 8.15%.
  • The second part of EPF is the Employee Pension Scheme (EPS). The main objective of EPS is to generate regular pensions for eligible employees post their retirement.
  • The third and last component of EPF is the Employer Deposit Linked Insurance Scheme or EDLI, which is a life insurance cover provided by EPFO. Under this scheme, the declared nominee of the member receives a lump sum amount in the event of unforeseen death of the member during his employment.

You don’t need to register for these schemes separately, as they will be automatically activated once you register for your EPF.

What Are EPF Pension Withdrawal Rules?

Following are the PF pension withdrawal rules that must be adhered to:
 

  • The PF account holders are not allowed to withdraw their PF contributions partially or fully during their service period.
  • PF account members can withdraw funds equivalent to 75% of funds in their PF account or 3 months of their salary plus dearness allowance, whichever is lower.
  • In case you are unemployed for at least a month, you can withdraw 75% of your EPF funds. If you are unemployed for two months or more, you are entitled to withdraw the remaining PF amount as well.
  • EPF withdrawal can be made both online and offline. In case of online withdrawal, the requests are processed within three working days. On the other hand, offline PF withdrawal claims can take up to 15-20 days to process.

How Much EPF Pension Can You Withdraw?

The EPF pension amount you can withdraw varies depending upon the reason for withdrawal. Below are the conditions for PF withdrawal under various scenarios:
 

Scenario When You Can Withdraw PF Balance

Withdrawal Limit

Medical Emergency

You can withdraw your entire PF balance or 6 times your current monthly pay, whichever is lower.

Wedding Ceremony

You can withdraw 50% of the total PF balance.

Home Renovation

You can withdraw the PF balance equivalent to 12 times your salary.

Unemployment

You can withdraw 75% of your EPF balance after one month of unemployment and the remaining 25% of your balance.

Retirement

Employees can withdraw the total EPF amount after their retirement. 

Process of EPF Pension Contribution Withdrawal

As discussed above, you can withdraw your EPF contributions both online and offline. Let’s discuss both processes in detail:
 

EPF Pension Withdrawal Online Process

If you want to proceed through the online EPF withdrawal process, then your UAN (Universal Account Number) must be linked to your Aadhaar Card. Here is how the process works:
 

  • Visit Unified Member Sewa Portal and log in using UAN and password.
  • Locate the “Online Services” option in the menu bar and select “Claim (Form-31,19,10C & 10D)”.
  • Next, your screen will display the automatically filled member details such as your name, father’s name, address, etc.
  • Verify the member and KYC details by entering the last four digits of your registered bank account and clicking “Verify”.
  • Next, select the “Withdraw Pension Only” option.
  • From the tab “I want to apply for”, select “Only Pension Withdrawal (Form 10C)”.
  • Enter your full address in the designated field of Form 10C, and check the disclaimer.
  • Select “Get Aadhaar OTP” to receive an OTP on your registered mobile number.
  • Enter the OTP in the text field and hit the “Validate OTP” option.
  • Click “Submit Claim Form”.

Once done, you will receive a notification on your mobile number. This claim will be submitted via Form 10C, and your pension will be transferred to your bank account.

EPF Pension Offline Process

  • Visit the EPFO website and download the composite claims form (With or Without Aadhar).
  • In case of an Aadhaar claim, you must provide your bank details, and your primary bank account should be linked with your Aadhaar.
  • In case of a non-Aadhaar claim, you will need to link the form with an account number.
  • Submit the complete form to the EPF office in your jurisdiction.

Documents Required for EPF Pension Withdrawal Online Process

Below are the documents required for EPF pension contribution withdrawal:
 

  • Aadhaar Card or any other ID proof
  • Address proof
  • Revenue stamp
  • Bank account statement

Final Thoughts

EPF pension acts as an indispensable tool for retirement planning. Needless to say, this accumulated fund allows you to live your old age in a financially secure and stress-free way.

We have discussed everything about the EPF pension contribution withdrawal process along with the necessary details. This detailed guide will definitely help you withdraw your EPF pension in a simple and timely manner.

Peaceful Retirement Awaits: Discover Your Perfect Pension Plan

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Tata AIA Life Insurance

A joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA),  Tata AIA Life Insurance  is one of the leading life insurance providers in India. We post everything you need to know about life insurance, tax savings and a variety of lateral topics such as savings and investments in this space. You can access and read a host of different blogs, articles and pages at the Tata AIA Life Insurance Knowledge Center or get in touch with us with any queries or questions!

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Frequently Asked Questions

Who can withdraw EPF contributions of a deceased member?

Any legal nominee of the PF account holder can withdraw the EPF balance.

What is the retirement age to withdraw EPF in India?

The retirement age to withdraw EPF in India is 55 years.

Disclaimers

  • Insurance cover is available under the product.
  • The products are underwritten by Tata AIA Life Insurance Company Ltd.
  • The plans are not guaranteed issuance plans, and they will be subject to the Company’s underwriting and acceptance.
  • For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
  • This blog is for information and illustrative purposes only and does not purport to any financial or investment services and does not offer or form part of any offer or recommendation. The information is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
  • Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company.
  • Every effort is made to ensure that all information contained in this blog is accurate at the date of publication. However, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.