EPF Withdrawal Rules
If you’re looking to withdraw your EPF, here are certain rules you need to remember:
Withdraw EPF balance and full pension after 58 years of age
After the age of 58, you can withdraw the full EPF amount as well as the pension. You need to fill and submit Form 10D to claim your full pension.
Withdrawal of pension between ages 50-58, with at least 10 years of service
Even if you have completed 10 years of service, the EPS amount cannot be withdrawn before the age of 58. However, you can claim a reduced pension if you are between the ages 50-58. For this, you need Form 10D and the Composite Claim Form.
Withdrawal of EPF And EPS if the service tenure is less than 10 years
Both the EPF balance and the EPS amount will be paid to you if your service period is less than 10 years. To avail of this, you need to check the option for ‘pension withdrawal’ in the Composite Claim Form. Whether it is full or partial EPF and EPS withdrawal, you can easily do it online through the UAN portal.
You can withdraw without an Aadhaar card by filling out the ‘Composite Claim’ form if you have a UAN. You need to submit your PAN details along with two copies ofForm15GH/Hif the total period of service has been less than 5 years. You can mention only the PF number in the absence of a UAN.
How much amount can I withdraw before one year of retirement?
Given that the early retirement age is set at 55 years, individuals are eligible to withdraw up to 90% of their Provident Fund (PF) balance, along with accrued interest, once they reach the age of 54, which is one year prior to their retirement.
What is the retirement age to withdraw the entire EPF amount?
55 years is the retirement age to withdraw the entire EPF amount.
What are the requirements for PF withdrawal?
- Your Universal Account Number (UAN) is active, and the mobile number used to activate the UAN remains operational.
- Your UAN is successfully linked with your KYC details, including Aadhaar, PAN, bank account information, and the corresponding IFSC code.
When these prerequisites are met, there is no requirement for your former employer to endorse your withdrawal request.
Invest in a fixed deposit for senior citizens for assured returns on your EPF
Withdraw your EPF and invest in aFixed Depositto get higher returns and stability on your savings. Many lenders offer special interest rates on fixed deposits for senior citizens. You can, for instance, invest an amount as low asRs. 15,000 in a Bajaj Finance FD for senior citizens and get interest rates of up to8.85% p.a., you can also make the most of multiple payout options and flexible tenures.
