EPF Withdrawal Claim: Retirement scheme for private employees is being run by the Employees Provident Fund Organization (EPFO). In this scheme, after retirement, the employee gets the benefit of pension along with a lump sum amount. We can make partial withdrawal from EPF Account. Let us know in how many days does the EPF withdrawal claim get settled?
EPF Withdrawal Claim: Retirement scheme EPF for private employees is being run by the Employees Provident Fund Organization ( EPFO ). Contribution to this scheme is made by the employee and the company.
The employee deposits 12 percent of his salary in the PF Fund. The amount contributed by the employee is equal to that contributed by the company.
In this scheme, interest is given annually by the government. Employees can withdraw money from PF fund after retirement. Apart from this, EPFO allows withdrawal of money from the fund even in emergency situations.
The employee has to claim for partial withdrawal. Withdrawal of money from PF account can be claimed in both online and offline mode.
Regarding how much time will it take for withdrawal claim in EPFO, EPFO said on X Post that usually it takes at least 20 days to settle the claim. In case of emergency, the employee will have to use Form 19 for PF withdrawal.
What to do if settlement is not done in 20 days
If PF withdrawal claim is not made within 20 days, the employee will have to contact the PF Commissioner. Apart from this, you can also lodge a complaint by visiting the EPFO website.
What is necessary for claim settlement?
It is necessary to fill Form 19 for PF claim settlement. If this form is not filled then the claim will be rejected. Apart from this, you will have to get e-KYC done for claim settlement. Claim settlement cannot happen without KYC.
You can get eKYC done through OTP on the mobile number registered in Aadhaar.
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