Introduction of SINGLE PAGE Composite PF Claim Forms instead of THREE Forms
EPFO has introduced a single page claim form with effect from February 20, 2017. This replaces the existing 3 Form i.e. Form 19, Form 10C and Form 31 for PF withdrawals and loans. It also eliminates Employer certification.
The key features are:
- Simple one-page form
- Self-certification – no employer attestation is required for subscribers who have seeded their aadhar and bank account information in PF portal
- No supporting documents required except for medical ground withdrawals
- Applicable for all withdrawals- Provident Fund Final settlement, Partial withdrawals (loan) for specified reasons, Pension Scheme withdrawal etc.
- No requirement of revenue stamps, if applicable as per state laws
Conditions to avail new withdrawal Facility – Aadhar Based
1. UAN should be activated
2. Aadhar should be linked with UAN
3. Bank Details to be given
4. KYC details have been verified by Employer by digital signature
Conditions to avail new withdrawal Facility – Non-Aadhar Based
If UAN is not seeded with Aadhar & KYC, Employer signature is required on the forms & to be routed through Employer.
TDS Deduction Norms
No TDS applicable, if PF account is in existence for 5 or more years. TDS is to be deducted on PF amount if the service is less than 5 years and PF accumulation is less than Rs 50,000. Tds rate will be @ 10% if a member submits PAN card. If PAN is not submitted TDS will be deducted at a maximum rate of 34.608%.
Partial withdrawals are allowed for the purposes of:
- Housing Loan, Purchase of Site, Construction of House, Renovation of House etc
- Medical Treatment of Self/ Family member –
- One year before retirement
- Investment in Varistha Pension Bima Yojana
- Marriage of Self/son/Daughter/Brother/Sister
- Post Matriculation education of Children
- Lockout or Closure of Factory/ Cut in the supply of electricity
- Purchasing of Equipment by partially handicapped. Also read, Employee, not in employment for a month, to get 75% PF