How Many Days Does It Take To settle An EPF Withdrawal Claim As Per EPFO?

The Employees’ Provident Fund Organisation ( EPFO ) facilitates employees to allocate a certain percentage of their basic salary towards the provident fund. According to EPF O regulations, an employee contributes 12% of their basic pay, which is matched by the employer, towards the EPF account. Out of the employer’s 12% contribution, 8.33% is allocated to the employees’ pension scheme (EPS), while 3.67% goes towards the provident fund. Conversely, the entire 12% contribution from the employee is directed to the provident fund.

While the primary objective of EPF remains to offer social security during post-retirement years, the EPFO permits partial or full withdrawal of funds under specific circumstances before retirement. For example, an individual who has lost their job can withdraw 100% of their EPF savings, provided they haven’t secured new employment and completed a 60-day period of unemployment. In such cases, the individual must complete and submit Form 19 to the EPFO for the final settlement of their EPF account. Additionally, the EPFO allows employed individuals to withdraw up to 75% of their accumulated PF savings under certain conditions.

Processing Time for EPF Claims:

EPFO states that it typically takes around 20 days to process an EPF claim and transfer the funds to the applicant.

Should the applicant not receive the funds within the specified timeframe, they have the option to approach the regional PF commissioner to address the issue. Alternatively, they can file a complaint through the EPFO’s official website.

Regardless of whether EPF subscribers submit withdrawal or transfer claims online or offline, they have the ability to check the status of their EPF claim through various channels. The most convenient method is to log into the UAN portal or visit the EPFO’s official website.

Eligibility Criteria:

Upon retirement, members can claim 100% of their EPF savings. However, early retirement does not entitle members to claim the entire corpus.

In cases of unemployment, members can claim up to 75% of the amount in their EPF account.

EPFO permits 100% withdrawal of the EPF deposit after two months of continuous unemployment.

Checking EPF Claim Status Online:

EPF members can verify their claim status through any of the following methods:

1. UAN Member Portat
2. EPF Website
3. Umang App