To withdraw the full amount from your Provident Fund (PF) account, you need to follow these steps:
You must be eligible to withdraw the full amount from your PF account. This means you must have completed at least five years of continuous service with your employer. If you have completed ten years of continuous service, you can withdraw the full amount without any tax implications.
Apply for Withdrawal
To withdraw the full amount from your PF account, you need to fill out the Composite Claim Form (Form 19) and submit it to the nearest Employees’ Provident Fund Organization (EPFO) office. You can also apply for withdrawal online through the EPFO portal using your Universal Account Number (UAN).
Submit Required Documents
Along with the claim form, you need to submit a cancelled cheque, a copy of your PAN card, and your Aadhaar card. If your Aadhaar card is not available, you can submit a copy of any other photo identity proof.
Wait for Verification
Once you submit the claim form and necessary documents, the EPFO will verify the details and process the withdrawal. The EPFO usually takes 10-15 days to process the withdrawal request.
Once the withdrawal is processed, the amount will be credited to the bank account mentioned in the claim form. You will receive an SMS and email notification once the amount is credited to your account.
It is important to note that withdrawing the full amount from your PF account may have long-term implications on your retirement savings. You may want to explore other options, such as transferring your PF account to a new employer or keeping it invested for the long term.