On 20 th February, changing the existing kinds of Provident fund withdrawal, Staff members Provident Fund Company (EPFO) has actually presented a brand-new EPF Composite Claim Type. The intention behind the intro of this brand-new type is to streamline the complete & partial withdrawal of the Provident fund quantity. Now inspect more information for “ New PF withdrawal Type, Single type to withdraw EPF– New Characteristic” from listed below …
What were the withdrawal forms efficient earlier?
| Type | Function |
| Type-10 c | To declare the Staff member Pension Plan |
| Kind 31 | To partly withdraw from your PF represent the function like marital relationship, home purchasing or medical emergency situation. |
| Kind 19 | To withdraw from your PF account at the time of retirement or leaving the task |
Functions of brand-new EPF withdrawal kind:
1. Replacement of old kinds to prevent the trouble of numerous types:
It has actually been presented changing the existing types noted in the above table. The existing types would no longer be utilized to make a claim.
2. Functions served: This brand-new type might be utilized for complete and partial withdrawal of your PF.
- EPS (pension) withdrawal
- EPF last settlement
- Partial/ advance withdrawal on account of
- Medical treatment of self/family member
- Real Estate Loan, Purchase of website, Building of home, restoration of home etc
- One year prior to retirement
- Marital relationship of self/ kid/ child/ bro/ sis and so on,
- Financial Investment in Varistha Pension Bima Yojana
3. 2 types:
Based upon the combination of your Aadhar with the UAN, 2 kinds were presented such as
Composite claim kind– Aadhar:
If your Uniform account number (UAN) has actually been related to Aadhar and bank information, this kind can be sent for all kinds of withdrawals. The attestation of company is not needed and this type can be sent to EPFO straight.
Composite claim kind– Non Aadhar:
If your UAN was not related to Aadhar and bank information, this kind can be sent for all kinds of PF withdrawals, however the attestation of company is needed and the kind needs to be routed through a company.
Brand-new Directions for PF withdrawal Kind:
- Previously advance stamped invoice with a 1-rupee profits stamp was required. The exact same is not needed from February 20 th
- Function of advance & files needed: (The function might be among the following):.
- Real estate Loan/Purchase of site/house/flat or for construction/Addition change in existing house/Repayment of Real estate loan:– No file is needed. New Statement Form/Utilization Certificate needed earlier has actually been terminated.
- Health problem of member/family:– i) Certificate of medical professional and ii) Certificate by company that ESIC center is not readily available to the member might be sent by the member.
- Marital relationship of self/son/daughter/ brother/sister:– No document/Marriage Card is needed.
- Post Enlisting education of kids: No file is needed.
- Lockout or closure of factory/Cut in supply of electrical power: No file is needed
- Natural disaster: No file is needed.
- Buying devices by physically handicapped: Medical certificate is needed.
- One year prior to retirement:–90% of overall PF balance can be withdrawn. No file is needed.
- Financial Investment in Varistha Pension Bima Yojana:–90% of overall PF balance can be moved to LIC. No file is needed.
Earnings Tax (TDS) is subtracted if the service is less than 5 years (60 months). No Earnings Tax (TDS) is subtracted in case the overall balance is less than Rs. 50,000/-. TDS is subtracted @10% if the candidate sends PAN in such cases. If PAN is not sent, TDS @34608% is subtracted
Advised Articles
- Examine EPF Balance by Missed Out On Call, SMS
- EPF Universal account number (UAN)
- Withdrawing EPF without Company’s Attestation
- Distinction In Between Net Wage, Gross Income and CTC
- Reverse Home Mortgage
- Inspect UAN Status
- Online Treatment of PF Registration for Company
- Worker Provident Fund
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