How To Withdraw EPF And EPS After Leaving Your Job (2023)

What is Employee’s Provident Fund (EPF) and Employee’s Pension Scheme (EPS)

The employee provident fund (EPF) and employee pension schemes (EPS) are popular schemes by the Government of India that aim to promote savings for retirement in case of salaried individuals in the organized sector. Both the schemes are governed by the Employee’s Provident Fund Organisation (EPFO), and cover organizations where the number of employees exceeds 20.

For salaried employees earning salary up to INR 15,000, it is mandatory to contribute towards EPF and EPS and the other employees can opt for the contribution on a voluntary basis. The employee’s contribution is 12% of the basic salary and the dearness allowance and the entire contribution is allocated towards EPF. The employer makes a matching contribution, however, the employer’s contribution to the extent of 3.67% goes towards EPF and the remaining 8.33% is allocated towards EPS.

It is pertinent to note that in case of employees who have started employment after Sept. 1, 2014 with salary above INR 15,000 per month, contribution towards EPS is not applicable. Hence, in such cases, the entire amount of employer’s contribution is allocated towards EPF only.

Withdrawal Eligibility

EPF withdrawal

An employee is eligible to withdraw the 100 percent accumulated amount of EPF on attaining the age of 58 years or if he/she has been unemployed for a continuous period of more than two months.

In case an individual remains unemployed for one month, he/she can withdraw 75% of the accumulated amount of EPF and the balance 25% can be withdrawn if the individual remains unemployed for more than two months.

(Video) How to withdraw PF and EPS money after leaving your job

Partial withdrawal is also allowed during employment to meet specified purposes like marriage, children’s education, construction or purchase of a house, medical reasons, etc. within the prescribed limits.

EPS withdrawal

The eligibility to withdraw and the quantum of withdrawal of EPS depends upon the age of employee and the number of years of service. Below are the broad withdrawal rules in this regard:

When employee has completed less than 10 years of service

  • In this case, a lump sum withdrawal is permissible only when the individual has been unemployed for two months.
  • The amount that may be withdrawn before completion of 10 years is linked to the number of years of service and shall be calculated as specified in Table D of the EPS scheme. The lower the number of years of service, lesser would be the amount that would be returned to the individual.
  • Alternatively, in case the employee does not wish to withdraw the amount accumulated towards EPS, he/ she may also opt to receive a “scheme certificate”. In case an individual takes up employment at a later date, then the service as per scheme certificate would be applied to calculate the total service tenure and eligibility for pension disbursal.

When employee has attained 50 years of age and has completed 10 years of service

An early monthly pension is permissible after 50 years of age when an individual has completed 10 years of service and leaves employment. In such a case, the individual would be eligible to receive a reduced pension as per the slabs defined under the EPS scheme.

When employee has attained 58 years of age and has completed 10 years of service

(Video) How to Withdraw PF Online After Leaving Job in 2022

In this case, the individual would be entitled to 100% of the eligible pension which would be paid on a monthly basis.

When employee has attained 58 years of age but has not completed 10 years of service

  • In this case, the individual would be eligible for proportionate withdrawal as per the EPS scheme, once he /she attains the age of 58 years.
  • The amount of money that will be returned will be based on the number of years of service and shall be calculated as specified in Table D of the EPS scheme. The individuals in this category are not eligible for monthly pension.

Withdrawal Process: Key Considerations for Approval

EPF or EPS withdrawal is facilitated online through the member e-SEWA portal of EPFO ( or through the UMANG mobile app. Before applying for EPF/EPS withdrawal, the following points should be taken care of:

  • All the accounts from any previous employment are merged into one account.
  • The Universal Account Number (UAN) should be linked to the Aadhaar number. This is necessary for an online service facility on the member e-Sewa portal. In case the UAN and Aadhar are not linked, the member needs to visit the Regional Provident Fund Office to submit the withdrawal claim form, together with a copy of the canceled cheque and other required documents.
  • All the know your customer (KYC)- related formalities should be completed before placing the withdrawal request. Permanent account number (PAN) is a mandatory requirement for KYC. The employee’s personal information as per the EPF records like date of birth, father’s name, etc. should be aligned with the proof of identity.

Process to Withdraw EPF/ EPS

  • After logging in the member e-seva portal, employees can select the ‘Online Services’ tab in the menu. The EPFO has launched a composite form i.e. one single form that can be selected for all categories of withdrawal for EPF or EPS.
  • Based on the type of withdrawal, employee can select the applicable Form number to submit the withdrawal claim i.e.
    • Form 19 for final EPF settlement; or
    • Form 31 for PF advance; or
    • Form 10C for withdrawal of accumulated pension contribution before completing 10 years of service; or
    • Form 10D in case of monthly pension withdrawal after 50 to 58 years of age.
  • Employees are required to verify employment details, employment status and other KYC requirements. Similarly, the employee should ensure that correct bank account information is provided and the bank account should be in the EPF account holder’s name. The claim may also be credited in the joint bank account of the individual maintained with his or her spouse.
  • The date of joining and leaving must be updated on the portal correctly. This is done through existing employers or past employers.
  • Employees would be required to complete the Aadhaar based verification process to validate and submit the relevant form.
  • Once the withdrawal amount is approved by the EPFO, the accumulated EPF or EPS amount shall be deposited in the respective bank account and an SMS for the confirmation of the same shall be sent to the registered mobile number of the individual.

Taxes on Withdrawal of Accumulated Balance of EPF and EPS

(A) Withdrawal of EPF

Conditions for exemption of EPF withdrawal

As per the relevant provisions of the Income-tax Act, 1961 (the Act), withdrawal of accumulated EPF contribution would be considered tax exempt in the following cases:

  • In case of individuals who have rendered continuous service of more than five years with one or more employers; or
  • Where an employee has not completed five years of service, but the withdrawal is due to specified reasons such as termination of employment on account of ill health of employee or on account of contraction or discontinuation of the employer’s business or any other reason which is beyond the employee’s control.

Conditions for Taxability of EPF Withdrawal

(Video) What Happens If I Not Withdraw My PF Amount || Don't Withdraw PF Enjoy Interest For a long Time

In case the accumulated EPF amount is withdrawn before five years of service, the amount would be considered taxable and is required to be offered to tax in the year in which the withdrawal is made.

Pertinent to note that the accumulated amount of EPF comprises employee contribution and matching employer contribution along with interest credited on such contribution over the tenure of employment. The taxability of different components would be determined as under:

Employer’s contribution – The employer’s contribution forming part of the accumulated amount is taxable in the hands of employees as “salary” income.

Employee’s contribution – In case the employee has claimed any deduction under Section 80C of the Act in any of the past financial years towards the employee’s contribution to PF, such deduction would need to be reversed. i.e the employee’s contribution claimed as deduction under Section 80C in past years would be offered to tax in the year of withdrawal. Such an amount would be taxable as ‘income from other sources’.

Interest on Employee and Employer’s contribution – The accumulated amount of interest on employee and employer’s contribution is taxable as ‘income from other sources’.

It is important to note that in case the EPF withdrawal is considered taxable and the total withdrawal amount exceeds INR 50,000, the same is liable for tax deduction at source (TDS) at the rate of 10% (20% if PAN is not furnished) as per provisions of Section 192A of the Act.

(Video) EPFO online pf withdrawal process | How to withdraw pf online after leaving job

The withdrawal is not subject to TDS if the member submits Form 15G/ Form 15H with the EPFO. Form 15G (applicable for individuals below the age of 60 years) /Form 15H (applicable for individuals aged 60 years or above) are self-declarations which may be submitted by the individuals declaring that their income is below the taxable threshold and hence, no TDS should be carried out for the amount credited to their account.

(B) Withdrawal of EPS

The monthly pension received from the EPFO is taxable in the hands of the employee as income from “salary”.

Any lump sum withdrawal from EPS, i.e. proportionate amount withdrawn before 10 years of continuous services is also taxable in the hands of employees as income from “salary”.

Bottom Line

The accumulated balance in the EPF and EPS accounts can be withdrawn even before the retirement age or 58 years, subject to the rules framed by the EPFO from time to time. The withdrawal process has been made much simpler with the introduction of the online portal and the mobile application.

However, an individual should carefully read the rules relating to criteria or eligibility for withdrawal, quantum of withdrawal, tax implications etc., and ensure that required documentation is available before placing a request for withdrawal of EPF or pension.


How To Withdraw EPF And EPS After Leaving Your Job? ›

EPF or EPS withdrawal is facilitated online through the member e-SEWA portal of EPFO ( or through the UMANG mobile app.

How can I withdraw my full money from EPF after leaving job? ›

You can do this simply by submitting Form 13 to the current employer. After submitting the form, your current employer will verify all necessary details and approve your withdrawal request. The entire process may take approximately 20 days from the date of form submission.

How can I withdraw my full PF and EPS online? ›

You must visit the EPFO website and enter your UAN (Universal Account Number), password and captcha. You then click on the 'Online Services Tab' and choose the option “Claim (Form 31, Form 19, Form 10C and Form 10D)”. Enter your bank account number linked with your PF account and click on 'Verify'.

What happens to EPF when you quit? ›

Yes, you can withdraw your full Provident Fund (PF) amount after resignation. However, if you withdraw before completing 5 years of continuous service, the amount will be taxable.

What is the rule for final withdrawal of EPF? ›

EPF Withdrawal Rules 2023
  • You cannot withdraw your PF funds, fully or partially, until the time you are employed.
  • You can withdraw up to 75% of your funds if you are unemployed for at least one month and the remaining balance if you are unemployed for two months or more.
Apr 12, 2023

Can I withdraw my PF amount after moving abroad? ›

Withdrawal is also allowed if the employee gets a job abroad. Members of the Employees Provident Fund Organisation (EPFO) can also withdraw the entire amount in case of total or permanent disability to work due to mental or bodily injuries. However, a medical practitioner must give a certificate regarding the same.

Can I withdraw all my EPF? ›

To facilitate EPF Members in preparing for a comfortable retirement, the EPF allows you to make a partial or full withdrawal from your savings to meet the specific retirement-related needs that are in line with the EPF's current policies.

How do I withdraw all my EPS amount? ›

EPS pension withdrawal online process:

Under the 'Online Services' option, select 'Claim (Form-31, 19 10C & 10D)'. The member details, KYC and other service details will be displayed on the screen. Enter the bank account number and click 'Verify'. Select the claim type as 'Withdraw Pension Only.'

Which form is required for EPS withdrawal? ›

The individual can avail EPF withdrawal using Form 10C if that individual is unable to find employment after retiring from their previous job. In case, the member dies before 58 years of age, family members or legal nominee of the individual can withdraw the amount from EPS account.

What is the form for EPS withdrawal? ›

Form 10C is a form that should be filled and submitted when claiming benefits under the Employee Pension Scheme (EPS). Every month a part of the overall PF contributions is segmented into the Employee Pension Scheme, and this section of the proceeds from your PF account can be withdrawn using Form 10C.

When can I withdraw my EPF after resignation? ›

Between 5 and 10 years of service – If an employee has worked for more than five years but less than ten years, they are eligible to withdraw their entire PF balance after resignation.

Can I withdraw EPF without employer? ›

However, you must remember the fact that the signature of the employer is absolutely necessary on the withdrawal form of the EPF. This is needed so that it can be certified that you are no longer associated with that organisation and may choose to take the money from the EPF whenever you like.

How long does it take for EPF withdrawal? ›

You may be required to submit scanned documents for the purpose you have filled out the form. You will receive money in your bank account once the employer approves the withdrawal request. It generally takes 15-20 days to get the money credited to the bank account.

Can I contribute to EPF if I work overseas? ›

Faizal says Malaysians below 55 years of age can register as EPF members to make savings until they reach retirement age, refuting the perception that those working abroad are not eligible. While no fixed amount has been set, EPF members can make contributions of between RM50 and RM60,000 a year at any time.

What is the form 10C? ›

Form 10C is a form that must be filled for withdrawal of your pension. Of the 12% contributed to your EPF account, 8.33% is directed to pension, i.e. EPS account.

What is the maximum amount we can withdraw from PF account? ›

The new regulations allow PF account holders to withdraw up to three months' worth of their basic pay + dearness allowance, or 75% of the net amount in their PF Registration account, whichever is less. This amount is a non-refundable deposit. These requests for withdrawal can be made online through EPF form 15g.

What happens to EPS money? ›

The EPS pension amount is also transferred along with the EPF corpus into the new account when applied for the transfer. The amount in the passbook shows zero but it is mentioned in the regional EPF office's database.

Can I withdraw my pension early? ›

If you're a member of a workplace pension, you might need the consent of your employer or ex-employer to take benefits earlier than the normal pension age. This is more likely if you're still working for them. In some instances, you might also need the consent of the pension scheme trustees.

What is the minimum pension in EPFO? ›

In this scheme, a fixed minimum pension of between Rs 1000 – Rs 2000 can be availed every month. Besides, it has many other facilities that can be availed. In this regard, EPFO – a retirement fund body – explains the EPS-95 benefits, eligibility that are available to both existing and new members.

Can I claim EPS online? ›

The process of withdraw EPF and EPS online is now available and the process is explained as below. Step 1-Login to EPFO Unified Portal for Members. Then on the homepage of Unified Portal, select the option “Online Services” tab. Here, you can withdraw EPF and EPS online and also can check the claim status online.

Who receives EPS? ›

Description: EPS is the portion of a company's profit that is allocated to every individual share of the stock. It is a term that is of much importance to investors and people who trade in the stock market.

Why is Form 10C rejected? ›

Insufficient Service. Insufficient Service rejection means that you have not served your service for a min. duration of 6 months. In such scenarios, you would be able to apply for EPF Withdrawal using Form 19 but cannot apply for EPS(pension) withdrawal using Form 10C.

How do I transfer my EPS to my current employer? ›

Unlike EPF, EPS cannot be transferred between two employers. It is held in trust by the EPFO. Your overall employment tenure and the last salary drawn determines your EPS balance. You would not see a closing balance against the EPS head in your EPFO passbook.

Which form to transfer EPS? ›

Form 13 PF is the application form that is required when you want to transfer your EPF Account from one employer to another.

How do I start an EPS transfer? ›

How to Transfer EPF Online/ Step by Step Process at EPFO Portal
  1. Login to your EPF account using your UAN and password here.
  2. Click on the 'One Member – One EPF Account (Transfer Request)' option in the 'Online Services' section.
  3. Carefully verify personal information and the present PF account details.
Jan 19, 2023

How long does it take to withdraw PF Form 31? ›

The online application of the withdrawal process may take around 5-30 days to get the PF amount in your registered bank account.

What proof required for EPF withdrawal? ›

Documents Required for EPF Withdrawal Online

Aadhaar Card. PAN Card. Voter ID Card. Cancelled blank cheque.

How much can I withdraw from EPF to invest? ›

All EPF members are allowed to withdraw and invest 30% of the amount in excess of the required basic savings in Account 1 according to your age, i.e. the total amount eligible to invest in unit trust funds approved by EPF.

How long does it take to settle PF claim online? ›

The EPFO aims to settle all claims within a period of 20 working days from the date of receipt of the claim. However, in practice, the time taken to settle a PF claim Form 19 can be more than 20 working days, and the actual time taken can vary based on the following factors.

How much time will it take to update date of exit in EPF? ›

Only two months after quitting a job can the date of departure be revised. In addition, the date of departure can be any day of the month in which the previous employer provided the last payment." Employees' Provident Fund (EPF) members can update their date of exit from a company themselves using the online route.

Do we need to fill form 19 or 31 for PF withdrawal? ›

Members must fill Form 19 for the final settlement of their PF corpus. Form 10C, on the other hand, must be filled for the withdrawal of pension, while Form 31 should be filled for partial PF withdrawal. Composite Claim Form, however, should be the only one to be filled for withdrawal of PF corpus offline.

How many days required for EPF withdrawal? ›

Once the claim is processed, the amount will be transferred to your bank account. Although no formal time limit has been provided by the EPFO, the money usually is credited in 15-20 days.

How to process form 31? ›

Step 1: Log in to the UAN portal through the official government website. Step 2: Check if the required KYC details are updated and verified. Step 3: Once the KYC details are verified, visit the “online service” tab and choose claim Form 31.

Can I withdraw my EPF for personal use? ›

All EPF account owners can withdraw up to 30% of their savings at the age of 50. At the age of 55, the total funds accumulated in both Account 1 and Account 2 will be merged into one account (Account 55). Once merged, full withdrawal is enabled.

How many times EPF can be withdrawn? ›

Withdrawals From the EPF That Are Taxable

Contact the experts at Vakilsearch for additional information on the provident fund and other applicable programs. Your EPF can only be withdrawn up to 50% of your employee share at the time of withdrawal application. You may withdraw money three times for the same purpose.

How can I write my date of exit in EPF without employer? ›

You no need to enter the exact date of exit. You can enter the date within 15 days after the date of leaving of job. Check the last contribution month in the online passbook and identify the latest Provident Fund contribution month. Accordingly, you have to enter the date of exit.

What is grace period for EPF? ›

The grace period of five days have been allowed for the employers to remit the contributions as the system of calculation of wages of the employees and their corresponding dues under the three schemes (Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 & Employees' Deposit Linked Insurance Scheme ...

What should be the reason of exit in EPF? ›

Any reason that is out of the employee's control due to which the employee has left the job, while updating the date of exit in the PF account of the employee, “CESSATION (SHORT SERVICE) – other reason beyond the control of employee” The reason is chosen.


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