How To Withdraw Pension Contribution from EPF Online?

The Employee Provident Fund (EPF) scheme offers a valuable safety net for retirement savings. However, under certain circumstances, you might need to access your pension contribution before reaching retirement age. This article will guide you through the process of withdrawing your pension contribution from the EPF online, a convenient and hassle-free method.

Eligibility to Withdraw Pension Contribution from EPF

Before proceeding, keep in mind that you are eligible to withdraw your pension contribution (Employee’s Pension Scheme – EPS) only if:

• You have been unemployed for more than two months.
• You have completed less than 10 years of service.
• You are migrating permanently to another country (requires an emigration certificate).

Document Required to Withdraw Pension Contribution from EPF

• Your EPF Universal Account Number (UAN) and password.

• Aadhaar card linked to your UAN (mandatory for online withdrawal).

• Bank account details linked to your UAN.

Steps to Withdraw Pension Contribution in EPF Online

1. Visit the Unified Member Sewa Portal: Access the portal through the official EPFO website (https://unifiedportal-mem.epfindia.gov.in/memberinterface/).
2. Log in: Use your UAN and password to log in to your account.
3. Select “Online Services”: From the menu bar, click on “Online Services” and choose “Claim (Form-31, 19 & 10C)“.
4. Verify Details: The portal will display your member details. Enter the last four digits of your registered bank account and click “Verify“.
5. Choose Claim Type: Select “Withdraw Pension Only” and then “Only Pension Withdrawal (Form 10C)“.
6. Fill in Form 10C: Enter your permanent address in the designated field and tick the disclaimer section.
7. Submit Claim: Click on “Get Aadhaar OTP“. An OTP will be sent to your Aadhaar-linked mobile number. Enter the OTP, click “Validate OTP“, and then “Submit Claim Form“.
8. Track Status: You can track the status of your claim by logging in to your UAN account and clicking on “Track Claim Status“.

Important Notes

• Ensure your Aadhaar card is linked to your UAN for online withdrawal.
• The processing time for claims can vary. Be patient and track the status regularly.
• Withdrawing your pension contribution before retirement might affect your future pension benefits. Consider this carefully before proceeding.
• For offline withdrawal, you can visit your nearest EPFO office and submit a completed Form 10C.
• You can find more information and resources on the official EPFO website (https://www.epfindia.gov.in/).

Pros and Cons of Withdrawing Pension Contribution from EPF

Pros	Cons
You receive a lump sum amount that can be used for various purposes like emergencies, medical expenses, or debt repayment.	Withdrawing the pension contribution decreases the amount available for your retirement income. This can lead to financial difficulties later in life.
You gain control over the funds and can invest them in other avenues potentially offering higher returns.	The EPF offers guaranteed returns and tax benefits, which are lost upon withdrawal.
This option can be helpful if you face unexpected financial hardship or need immediate funds for essential expenses.	Depending on your employment period and withdrawal reason, the withdrawn amount might be partially or fully taxable.
You can choose how to invest the withdrawn funds based on your risk tolerance and financial goals.	Investing the withdrawn amount yourself might not guarantee the same high returns as the EPF scheme.
The withdrawal only affects your personal contributions, not your employer’s.	Withdrawing the pension contribution reduces your monthly pension amount after retirement.

By following these steps and considering the eligibility criteria, you can efficiently withdraw your pension contribution from the EPF online. Remember, this is a significant decision, so weigh the pros and cons carefully before proceeding.