PF withdrawal? You should know about these forms; How to download and fill
There are different kinds of PF withdrawals available for the EPFO member — the PF final settlement, PF partial withdrawal and pension withdrawal benefit. The fund withdrawal from the EPFO before the completion of 5 years of continuous service is subject to tax. The principal, as well as the accrued interest, is subject to tax. Withdrawals as a result of unemployment owing to ill-health or termination, however, do not attract tax.
If one chooses to transfer one’s PF account towards the National Pension Scheme, then it will not attract tax when one makes a withdrawal. With the amendments in rules, subscribers to EPFO do not require attestation of their employers to make a partial or complete withdrawal. The subscribers should opt for seeding their Aadhaar card details with their UAN. EPFO has made allotment of UAN, i.e Universal Account Number, compulsory for all employees covered under the PF Act.
The EPF rules allow complete withdrawal of PF money when an individual retires from employment and when he/she remains unemployed for a period of 2 months or more. The state of unemployment for more than 2 months, however, has to be certified by a gazetted officer. Partial withdrawal is allowed in cases such as marriage, education, purchase of land, construction of a house or home loan repayment.
The subscribers can fill the composite claims forms to a request for a partial or complete withdrawal. The attestation of the employer is not required if Aadhaar card details are seeded with UAN. Earlier, Form 19, Form 31 and Form 10C were used to make withdrawals. Recently, the composite claim form has replaced these forms. Instead of requiring UAN details of the employees, composite forms require the Aadhaar details of the employee. An individual can make withdrawal request either by submitting a physical application or an online application.
Source: Financial Express