Employee Provident Fund (EPF) is a retirement benefits scheme that is available to all salaried employees in India. It is managed by the Employees’ Provident Fund Organization (EPFO), a statutory body formed under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. EPF Form 31 is one of the forms that employees can use to withdraw funds from their EPF account. In this article, we will discuss EPF Form 31 in detail, including its purpose, eligibility criteria, and the process for filling and submitting the form.
What is EPF Form 31?
EPF Form 31 is a form that employees can use to withdraw funds from their EPF account for various purposes such as marriage, education, medical treatment, and home purchase or construction. It is also known as the ‘Advance form’ as it allows employees to take advances from their EPF account for specific reasons. Employees can use this form to withdraw up to 50% of their total EPF balance.
Purpose of EPF Form 31
EPF Form 31 serves as a means for employees to access their EPF funds for urgent or important financial requirements. The EPFO has set certain criteria for the withdrawal of funds using Form 31, which we will discuss in detail later in the article.
Eligibility Criteria for EPF Form 31
To be eligible to withdraw funds using EPF Form 31, an employee must meet the following criteria:
- The employee should be a member of the EPF scheme and should have contributed to the scheme for at least three years.
- The employee must have completed one year of continuous service with the current employer.
- The employee can withdraw up to 50% of their total EPF balance in case of marriage or education of self or dependent children.
- The employee can withdraw up to 6 months of their basic wages and DA or the total employee share with interest, whichever is lower, for medical treatment of self or family members.
- The employee can withdraw up to 24 months of their basic wages and DA or the total employee share with interest, whichever is lower, for the purchase or construction of a house or flat.
- The employee can withdraw up to 36 times of their wages and DA or the total employee share with interest, whichever is lower, for repayment of the outstanding loan on a house or flat.
How to Fill EPF Form 31
EPF Form 31 is a straightforward form that can be filled online or offline. Here is the step-by-step process for filling EPF Form 31:
- Download or collect the EPF Form 31 from the nearest EPFO office or download it from the EPFO website.
- Fill in your personal details, including your name, address, date of birth, and PAN number.
- Fill in your EPF account details, including your EPF account number and the name of your current employer.
- Mention the purpose of the withdrawal and the amount required.
- Sign the form and submit it along with the necessary documents to your employer.
- In case of home purchase or construction, a copy of the allotment letter, sale deed, or agreement for sale of the house or flat.
- In case of repayment of the outstanding loan on a house or flat, a copy of the loan agreement and a letter from the bank or financial institution stating the outstanding amount.
- In case of any other reason, supporting documents related to the purpose of the withdrawal.
Submitting EPF Form 31
After filling the EPF Form 31 and attaching the necessary documents, the employee needs to submit the form to their employer. The employer will verify the form and documents and forward them to the EPFO for further processing. It usually takes around 20-30 days for the EPF withdrawal request to be processed and the funds to be transferred to the employee’s bank account.
It is important to note that the EPFO has made it mandatory for employers to submit EPF withdrawal requests online. Employees are required to provide their Aadhaar number and bank account details to their employer to facilitate the online submission of the withdrawal request.
EPF Form 31: Things to Keep in Mind
- The employee must have completed one year of continuous service with the current employer to be eligible for EPF withdrawal.
- The maximum amount that can be withdrawn using EPF Form 31 is 50% of the total EPF balance.
- The EPF withdrawal is subject to certain tax implications. If the withdrawal is made before completing five years of continuous service, the amount withdrawn will be taxable. However, if the employee has completed five years of continuous service, the withdrawal amount will be tax-free.
- The EPFO has made it mandatory for employers to submit EPF withdrawal requests online. Employees are required to provide their Aadhaar number and bank account details to their employer to facilitate the online submission of the withdrawal request.
- It is important to provide accurate information and supporting documents while filling the EPF Form 31. Any false information or discrepancies in the documents may lead to the rejection of the withdrawal request.
How to Withdraw EPF online through Form 31?
EPF (Employees’ Provident Fund) is a government-backed retirement savings scheme for salaried employees in India. As an EPF member, you can withdraw your funds from your EPF account using Form 31. In recent years, the EPFO (Employees’ Provident Fund Organization) has made it easier for members to withdraw their EPF balance online using Form 31. Here are the steps to withdraw EPF online through Form 31:
Step 1: Log in to the UAN Member Portal
To withdraw your EPF balance online through Form 31, you need to log in to the UAN (Universal Account Number) Member Portal. The UAN is a unique identification number given to all EPF members. You can access the UAN Member Portal at https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
To log in to the portal, you need to enter your UAN, password, and captcha code. If you have forgotten your password, you can reset it by clicking on the “Forgot Password” link and following the instructions.
Step 2: Click on “Online Services” and select “Claim (Form-31, 19 & 10C)”
Once you have logged in to the UAN Member Portal, you need to click on the “Online Services” tab on the top menu bar. From the drop-down menu, select “Claim (Form-31, 19 & 10C)”.
Step 3: Enter your bank account details and click on “Verify”
Next, you need to enter your bank account details, including your account number, IFSC code, and bank name. After entering the details, click on “Verify” to validate your bank account.
Step 4: Select “PF Advance (Form 31)” as the claim type and enter the purpose of the claim
On the next screen, you need to select “PF Advance (Form 31)” as the claim type. You also need to select the purpose of the claim, such as medical treatment, home renovation, or marriage. The purpose you select will determine the amount you can withdraw.
Step 5: Enter the amount you want to withdraw and upload the required documents
After selecting the purpose of the claim, you need to enter the amount you want to withdraw. Remember, you can withdraw up to 50% of your total EPF balance using Form 31. You also need to upload the required documents to support your claim, such as medical bills, marriage invitation card, or home renovation estimates.
Step 6: Click on “Get Aadhaar OTP” and enter the OTP
Once you have entered the required details and uploaded the documents, click on “Get Aadhaar OTP”. The OTP (One-Time Password) will be sent to your registered mobile number linked with your Aadhaar card. Enter the OTP in the space provided and click on “Submit”.
Step 7: Click on “Yes” to submit the claim
After entering the OTP, you need to click on “Yes” to submit the claim. Your EPF withdrawal request will be sent to the EPFO for processing. The EPFO will verify the details and documents you have provided and transfer the requested amount to your bank account.
Withdrawing your EPF balance online through Form 31 is a simple and convenient process. Just log in to the UAN Member Portal, select the claim type, enter the required details and documents, and submit the claim. However, it is important to ensure that you meet the eligibility criteria and provide accurate information and supporting documents to avoid any delays or rejection of your claim.
How to Submit EPF Form 31 Offline?
While it is now possible to withdraw your EPF balance online using Form 31, you can also submit the form offline. Here are the steps to submit EPF Form 31 offline:
Step 1: Obtain Form 31
You can obtain Form 31 from your employer or download it from the EPFO website at https://www.epfindia.gov.in/site_docs/PDFs/Downloads_PDFs/Form31.pdf. You can also obtain the form from the EPFO regional office or the nearest Common Service Center (CSC).
Step 2: Fill in the required details
Once you have obtained Form 31, you need to fill in the required details, such as your name, UAN, PF account number, reason for withdrawal, and amount to be withdrawn. You also need to provide your bank account details, including your account number, IFSC code, and bank name.
Step 3: Attach the required documents
You need to attach the required documents to support your claim, such as medical bills, marriage invitation card, or home renovation estimates. Make sure you provide the original documents or self-attested copies of the documents.
Step 4: Submit the form to your employer
After filling in the required details and attaching the documents, you need to submit the form to your employer. Your employer will verify the details and forward the form to the concerned EPFO regional office for processing.
Step 5: Track the status of your claim
You can track the status of your EPF withdrawal claim by visiting the EPFO website at https://www.epfindia.gov.in/site_en/KYCS.php. Enter your UAN and captcha code to view the status of your claim.
While submitting EPF Form 31 offline may take longer than online submission, it is a viable option for those who prefer the traditional method of submitting forms. Make sure you provide accurate information and attach the required documents to avoid any delays or rejection of your claim.
FAQs on EPF Form 31
EPF Form 31 is a withdrawal form used to withdraw money from your Employees’ Provident Fund (EPF) account for specific purposes such as medical emergencies, house renovations, or marriage.
You can obtain EPF Form 31 from your employer, download it from the EPFO website, or obtain it from the nearest Common Service Center (CSC).
Yes, you can now withdraw your EPF balance online using Form 31 through the EPFO member portal.
The documents required to be submitted along with EPF Form 31 depend on the reason for withdrawal. For example, if you are withdrawing money for medical treatment, you need to provide medical bills as proof.
No, you cannot withdraw the entire amount in your EPF account using Form 31. You can withdraw a certain percentage of your balance based on the reason for withdrawal.
No, you cannot withdraw money from your EPF account for your child’s education.
The processing time for EPF Form 31 varies depending on the reason for withdrawal and the completeness of the application. It can take anywhere from a few days to several weeks.
Yes, you can track the status of your EPF Form 31 online by visiting the EPFO website and entering your UAN and captcha code.
Yes, you can withdraw money from your EPF account while still employed if you meet the eligibility criteria and have a valid reason for withdrawal.
Yes, there may be tax implications for withdrawing money from your EPF account using Form 31. Any withdrawal made before completing five years of continuous service is taxable as per Income Tax rules.
Conclusion
EPF Form 31 is a form used for withdrawing money from your Employees’ Provident Fund (EPF) account for specific purposes such as medical emergencies, house renovations, or marriage. The form can be obtained from your employer, downloaded from the EPFO website, or obtained from the nearest Common Service Center (CSC).
EPF Form 31 can now be submitted online through the EPFO member portal, or offline by filling in the required details, attaching the necessary documents, and submitting the form to your employer. The processing time for the form varies depending on the reason for withdrawal and the completeness of the application.
It is important to provide accurate information and attach the required documents to avoid any delays or rejection of your claim. Additionally, any withdrawal made before completing five years of continuous service is taxable as per Income Tax rules, and there may be tax implications for withdrawing money from your EPF account using Form 31.
Overall, EPF Form 31 is an important tool for withdrawing money from your EPF account for specific purposes, and understanding the process of submitting the form can help you efficiently and effectively access the funds you need.