EPF Withdrawal Procedure (Employee Provident Fund)

Procedure on how to withdraw the Provident Fund Amount or EPF Withdrawal Funds online….
To some people, Employees Provident Fund is that annoying monster that comes to chuck money from your account every end month. The most unfortunate thing is that, contributing to EPF is not optional and especially for those people working in government offices and big companies. Looking at Employees Provident Fund as a monster might seem unreasonable but the fact that those who contribute takes such a long time before enjoying the benefits makes it reasonable.

Although being a member of Employees Provident Fund is a compulsory for many workers in India, the rules and regulations governing it are set by a Board of members known as Employees Provident Fund Organization and not the individual members. The money contributed to the EPF can be said to be savings for the members as they will only be allowed to withdraw once they retire or under very special circumstances.

Just like any other saving schemes, there are very many rules governing the EPF withdrawal of funds from the Employment Provident Fund Organization. These rules regulates the time and mode of withdraw acceptable for its members to withdraw their savings. Before we discuss about the procedure of withdrawing funds, it is very important we first talk about these rules.

Latest rules of EPF withdrawal

  1. If a member withdraws his / her money before completing five years of continuous service, their money will be taxed. However, if you EPF withdrawal after five years of continuous service, you will not be taxed. This rule was set by the government as a way of encouraging commitment to the Organization and also it has been seen as a way of encouraging long term savings.
  2. On the other hand, when an employee loses his/her job due to reasons beyond their control, for example; discontinuation of business of their employer or ill health, their savings will not be taxed if they choose to withdraw even before the completion of the minimum set time (5 years).
  3. If an EPF member decides to withdraw their money even before completing the set time of five years, their principal amount and the interest accrued will be subjected to tax. It is also important that the amount deducted will be determined by the percentage of the financial year the EPF withdrawal is done.
  4. The amount set is normally 30% of the principal amount as well as the interest your savings had accrued. This however only applies if the member in question had not submitted his or her PAN to the relevant authority (Employees Provident Fund Authority). But if they had met this requirement only the 10% Tax Deducted from Source (10%TDS) will be applied.
  5. It is however very important to know that, if you choose to transfer your Provident Fund account towards the NPS (National Pension Scheme), you will not be taxed when you make a withdrawal.
  6. On the other hand, if the employee gets a new employer and registers a different Provident Fund account but doesn’t skip any contribution, this will be considered as a continuous service and hence it will not attract any deductions during withdrawal.

Current Universal Account Number UAN Status at unifiedportal-mem.epfindia.gov.in

Everyone must know the procedure on Current Universal Account Number UAN Status Check online at unifiedportal-mem.epfindia.gov.in….
Are you interested to know about the UAN? The UAN stands for a Universal Account Number, which has been introduced to give some benefits to the employees of various fields. It will be authorized under the employee provident fund or EPF scheme, which is under the control of the ministry of labour and employment, the government of India. If you are new to this fact then it is essential for you to collect its basic and advanced information. You can browse the official website of the EPF if you don’t want to waste your time. This scheme is inaugurated to benefit the employees all around the country.

This scheme offers the employees to directly connect with their provident fund across various organizations. If you require to withdraw provident fund online then this scheme will be there to do this task easily. When you want to convert your old existing account with newer one then because of UAN, you can do it without facing any issue. You can check the Current Universal Account Number status of your account by using the benefits of this universal account number. The account holders will be able to know their UAN status with the help of benefits offered by this number. If you still have some doubts about this number then you can check the following paragraphs containing the similar information about the UAN.

What is the clear meaning of UAN?

The current prime minister of India Sh. Narendra Modi has started this scheme to help the employees. With the help of this number, your employer wouldn’t be able to give any kind of stress due to many reasons. This will give the employees a freedom to take a stand against the unnecessary issues caused by their employer. You can check and edit the settings of your current account when you have the UAN. With the help of this number, you can download the pass-book of your account. You can update the KYC of your account easily with the help of this number. The employees would be able to transfer the PF online of they have this account.

  • You can check the current UAN Status of your PF with the help of this number
  • The employees can get the benefits of upcoming plans and schemes because of this number
  • You can easily download your UAN card
  • You can download the fresh pass-book of your account
  • Users will be able to make the required editing in their accounts
  • You can check and update your KYC

Therefore, with the help of these upper listed points, you can easily understand what the UAN and what benefits it is going to provide you. It would be a great option for you to get this number for taking the upper given benefits.

What is Actual the Purpose of Starting UAN?

The primary reason behind the inauguration of this number is to help the employees to get actual benefits of their rights. This law or rule will allow them to fight for their rights against any employer. If you are looking for universal account number status then it is necessary for you to collect some reasons behind the starting of this UAN in the following points:

  1. For helping the employees to check and download their passbooks easily
  2. To allow the employees to download or print their UAN card
  3. You can check your member ID due to this number
  4. If you want to check transfer claims then this number will help you
  5. In some situations, if your employer has submitted wrong information in your profile then this number allows you to update your profile
  6. Similarly, you can check and edit your email address, KYC and Aadhar number also

Because of these amazing benefits, this UAN has been providing excellent benefits to their account holders. You can check Epfo uan status easily by browsing the official website of EPF.

How to check EPFO UAN Status in unifiedportal-mem.epfindia.gov.in

Are you looking to check your UAN and didn’t found the trustable path? If you say yes then the following steps can help you to check the current EPFO UAN status without wasting your time. The employers who are searching for epfo uan status check can also follow the next steps:

  • First of all, you have to browse the Universal Account Number Status website https://unifiedportal-mem.epfindia.gov.in/
  • On the opened page, you will find a section asking about your account number and password
  • You have to fill you’re an account and password
  • After that, you have to clear the Captcha
  • By following all these steps, you would be able to check the Current UAN Status of your UAN

Another Procedure to know the UAN Epfo Status check online process are as follows….

  • Open the URLL: https://unifiedportal-mem.epfindia.gov.in/memberinterface/
  • Scroll the Mouse Scroll. Come to down. You can see the “Important Links” Section.

Universal Account number Status
Universal Account number Status

  • In that section click on “Know your UAN Status”
  • After it will redirected to “Know Your Uan” page.
  • In that page you can Enter your Member ID.
  • In that section you can also Choose the District and Office.
  • You can check the Universal Account Number Status with either Entering the Member ID or PAN or Aadhaar Number.
  • Then Enter the Name, Mobile Number, Date of Birth and Captcha Code. Click on “Get Authorization Pin”.
  • After it shows the Current UAN Status on screen.

current uan status
current UAN Status

Therefore, the new users of this UAN can get the benefits of this scheme by understanding the upper listed information. This information will help you to check the current UAN Status along with some other benefits. To collect more information you can take some help from the experts of this same line.