The EPFO is an organization established under the Ministry of Labour and Employment and located in the India. It supervises several aspects related to the Employees’ Provident Fund (EPF), a social security program meant to ensure that employees save for retirement. Form 19 is one of the essential kinds of withdrawals from EPF. In this blog post, I am going to explain what is EPFO Form 19, how to apply for it, and few important points one needs to remember while applying for withdrawal.
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What is EPFO Form 19?
EPFO Employee’s Provident Fund is a corpus fund scheme lunch by Government of India. Under these scheme both employee and employer contribute 12% of employee’s salary each month. On which employee is eligible to get a CAGR interest rate of 8.5%. EPFO Form 19 is utilized to claim the corpus fund withdrawal of an EPF account. Under this type of form, employees can withdraw all their EPF balance when they retire or resign from their work. The Form 19 is very essential if you have to withdraw the amount saved in your EPF account during your employment period.
Eligibility for Filing EPFO Form 19
It is crucial to establish if you are eligible for filing Form 19 before going through the filing process. The eligibility criteria are:
- Retirement : Form 19 is filed when you reach the age of 58 years and intend to receive pension.
- Resignation: Form 19 can be filed when one resigns from a job and does not secure another job for at least two months.
- VRS (Voluntary Retirement Scheme) or Early Retirement: If you decide to take VRS or early retirement, you can also use Form 19 to apply for it.
- Must read: Income Tax Concept in India
Step-by-Step Guide to Filling EPFO Form 19 Online
EPFO Form 19 can be filed online and the procedure involved is as directed below. Follow these steps to ensure a hassle-free withdrawal:
- Step 1: Log in to the UAN Portal
1. Go to the UAN Member Portal and input your UAN and password.
2. Make sure your UAN is active and correctly mapped to Aadhaar, PAN, and your bank account.
- Step 2: Go to the Online Services Section
1. Proceed to the ‘Online Services’ subtab.
2. Next click on the ‘Claim (Form-31, 19, 10C & 10D)’ button.
- Step 3: Verify Your Details
1. Check your KYC details shortly (Aadhaar, PAN, and bank details).
2. You will need to click on the ‘Proceed for Online Claim’ button.
- Step 4: Choose the Form
1. From the drop-down bar select, PF Advance (Form 31).
2. Select withdrawal type (for example, for retirement, resignation).
- Step 5: Fill in the Required Details
1. Enter your bank account details and attach a cancelled cheque or bank passbook scanned copy.
2. To complete the process of identity verification click on ‘Get Aadhaar OTP’.
- Step 6: Submit the Form
1. Provide the OTP received on Aadhaar mobile not registered with UMANG App.
2. Complete the form and send it to be for further processing.
- Step 7: Track Your Claim
1. To track the status of your claim, you can go to the ‘Track Claim Status’ under the UAN portal.
Additional Tips:
– It is recommended that your KYC details should be updated to avoid being held back.
– Be sure to verify the bank account information to avoid transaction failures.
Conclusion
Filling out EPF form 19 is necessary to complete if you need to withdraw your EPF money. If you follow the steps mentioned above, you will not face any problems while making a withdrawal. Make sure to update your KYC details; always double-check all details to prevent any issues. However, if you have any problems, the EPFO customer care can help you out.