One of the most trusted accounts for employees is the EPF account. Its importance cannot be ignored. Every employee’s future savings are collected in the Provident Fund account. A large sum of money is available after retirement.
However, in case of an urgent need, you can withdraw money from your EPF account even while working. Many people have some idea about this, but many do not know which form to use in which case. Because of this, withdrawing money from the PF account can be difficult. Just as it is important to know how much money is in your PF account, it is also important to know how to withdraw money, transfer your account, and apply for a pension.
How to Withdraw or Use Your PF Account
Advance Withdrawal
- If you are still employed and want to withdraw money from your PF account, use the Composite Claim Form. This form has two types: Aadhaar and non-Aadhaar.
- If your Aadhaar card, bank account details, and Form 11 are updated on the UAN portal, you can use the Aadhaar-based Composite Claim Form.
You can apply directly at the EPFO office. You do not need attestation from your employer.
LIC Insurance
If you want LIC insurance through your EPF account, use Form 14.
Monthly Pension
- You can apply for a monthly pension after working for 10 years. Use Form 10D.
- If you want to withdraw money after working less than 10 years, use the Composite Claim Form.
PF Account Transfer
If you leave your job and join another company, use Form 13 to transfer your PF account.
Final Settlement
- If you are no longer employed, wait two months after leaving the job, then apply through the Composite Claim Form for final settlement.
- If you leave after serving 10 years, you can also apply for a scheme certificate from the pension fund.
In Case of Death
- If a person dies before age 58, submit Form 20 for final settlement.
- If the family wants the monthly pension benefit, apply using Form 10D.
- To make an insurance claim under the EDLI scheme, use Form 5IF.
