What are the requirements for EPF withdrawal for home loan repayment?

The primary requirement for the member to withdraw EPF for home loan repayment is that the member should have completed three years of continuous service. Also, the maximum amount that can be withdrawn for the purpose is 90% of the EPF corpus.

Can I claim EPF without logging in to the EPF portal?

You can fill EPF withdrawal form offline if you do not wish to use the online platform. In case you want to use the online method, you will have to log in to the EPF member portal using your UAN and password.

What is the online procedure of EPF withdrawal of previous organizations, if the current organization’s PF number is also linked with the same UAN number?

If you are currently employed and you have opened a new PF account linked with the same UAN  then you are not eligible to withdraw your last EPF balance. It is advisable to transfer the balance to the new PF account by logging in to the EPF Member e-Sewa Portal and opting for the “One Member-One EPF Account (Transfer Request)” option in the “Online Services” drop-down menu.

However, if you are currently unemployed for more than two months then you can claim for the total withdrawal of your EPF funds by filling in Form 19.

Is PAN mandatory for EPF withdrawal?

PAN is required during EPF withdrawal/settlement in order to keep away from tax deductions. If you fail to submit PAN, the tax deducted at source (TDS) can be as high as 30%.

How many times can I withdraw the PF money in advance online?

PF advance can be claimed on various but pre-specified grounds. Please read  Situations when you can make a pre-retirement withdrawal from EPF to check if you are eligible to make PF advance claim.

The frequency of withdrawal varies depending on different factors. As per the latest rules,

• You can make PF withdrawal for marriage not more than three times.
• Similarly, for post-matriculation education, you can claim for withdrawal of your PF fund for a maximum of three times.
• If you are purchasing a house/plot or constructing a house then you can claim for PF advance only once.
• On critical illness/ medical emergency grounds, there is no explicit limit on the number of times you can raise a claim for PF withdrawal before retirement.

Can EPF withdrawal be done without PAN?

EPF can be withdrawn without PAN. However, if you do so, you will be liable for a TDS deduction of 30% from the claim amount.

When is EPF withdrawal taxable?

If you withdraw your EPF amount before 5 years, then you will be liable for TDS deduction of 10% (if you show your PAN at the time of withdrawal; if you fail to do so, then TDS to be deducted will be at 30%). However, if you withdraw your EPF after 5 years of continuous service, then it will be tax-free.

How much tax is applicable on EPF withdrawal?

If the EPF is withdrawn before 5 continuous years of service, then TDS at the rate of 10% is deducted. However, you will have to facilitate your PAN at the time of withdrawal. If you do otherwise, TDS at the rate of 30% will be deducted. Additionally, if the employee transfers funds from his PF account to NPS, he will not be liable to pay any tax.

How to show EPF withdrawal in ITR?

The withdrawals from EPF are considered income for the employee and should be mentioned under the head ‘Income from salary’. If you have withdrawn money from your EPF account, then you may report the same at the time of filing the ITR by selecting ‘Section 10(12) Recognized Provident Fund’ on the portal.

What is EPF withdrawal enquiry number?

EPFO Toll-Free Customer Care Number – 1800 118 005.

This article has been written by CS Tanuj Chandra Saxenaa (ACS, M.COM, MBA (FINANCE), CFI (FMVA) (Pursuing) SAP FICO Certified. He is a Practicing Company Secretary and Trademark Agent in Tanuj Saxena & Associates in Lucknow, Uttar Pradesh.