Procedures and Guidelines of EPF Amount Withdrawal
One can able to get their PF withdrawal application by the process of contacting the previous employer. There are separately two options are available to withdraw the PF amount. But the easy way is that one can file for the application of PF withdrawal amount to your last employer. You can mainly get the application and the other formalities of the EPF office. In most of the companies, they will ask you the proper PF withdrawal form from the EPF office along with the bank cheque.
For this purpose, always you must be in contact with your preceding company representatives, to get the PF amount in an easy manner without any obstacles. There are several ways to process the amount.
There are several reasons are available which can convert the PF withdrawal is not the best idea
- Generally, the PF amount is provided by the company at the time of retirement and that amount should not be used before you getting retired.
- This method is helpful for the employee to live a better life and the secure life in future.
- They also no need to worry about their future after retirement, because a bulk amount is there for the employee at the time of retirement.
- In any situation, if you want to withdraw your PF amount before retirement means, then you must pay the tax based on the interest of amount that you have earned.
- If you did not pay the tax means then you will suffer from the Income Tax Act under the section 80C.
- You also have another option of transferring your PF account to a new company, when you relieved from the previous company.
Steps To Withdraw The PF Amount:
There are certain steps are available to withdraw your PF amount when you are the employee of the respected company. You can get the amount at the time when you are switching your job from one place to other with the process of particular PF account.
The PF form is available in the official PF website as the Form 19 process. There are three ways are available to withdraw the PF amount.
- You can apply the PF withdrawal amount to universal account number (UAN). If you have the official UAN then you can easily get the PF amount.
- Submitting the application of PF withdrawal directly to the PF office.
pf withdrawal rules 2017
on 2016 union budget new rules launched and reverted back to normal. there is no TDS if employee withdrawing pf amount after 5 years of work.
PF Withdrawal forms which to submit
- After 58 years FORM 10D.
- 10 years before 58 years FORM 10C.
- Fund LIC policy with EPF Account FORM 14.
- Take some advance from your PF balance FORM 31.
Taxes & Rules regulations furhter available briefly.