Provident Fund is a government-mandated retirement savings program in India. It is also known as Employee Provident Fund (EPF) and is social security savings for employees. Every month, an employee contributes a part of their salary to the Provident Fund account. The employer also contributes to this account on behalf of the employee. It is a great option for retirement savings, as the employee can withdraw the amount upon retirement or in some special cases.
Advantages of Online EPF Application
Earlier, employees had to fill a physical form for withdrawing or transferring their EPF. But now, the process has gone online. Some of the advantages of applying for EPF online are:
- Less paperwork and quicker processing
- Less time-consuming, since there is no need to go to the EPFO office
- Employees can track their application process and status online
Steps to Apply for EPF Online
Employees can apply online for various services such as PF withdrawal, transfer of PF, and PF balance check. Below are the steps to apply for EPF online.
Step 1: Activate your UAN
UAN stands for Universal Account Number, which is unique to every employee contributing to the Provident Fund. Employees must activate their UAN before applying online for any PF-related service. They can do this by visiting the EPFO website and clicking on ‘Activate UAN’ on the homepage. The employee must then provide their UAN, mobile number and email ID for the activation.
Step 2: Verify your KYC
After UAN activation, the employee must verify their KYC (Know Your Customer) details such as PAN card, Aadhaar card, bank account details, etc. They can do this by clicking on ‘KYC’ under the ‘Manage’ option on the website.
Step 3: Log in to the EPFO website
Visit the EPFO website and enter your login credentials – UAN and password. If you have not set a password, click on ‘Forgot Password’ and follow the instructions for password reset.
Step 4: Select the service
After logging in, select the service you want to apply for, such as PF withdrawal or transfer.
Step 5: Fill the form and submit
Fill in the necessary form, such as Form 31 for PF withdrawal, and submit. The form will need to be verified by the employer before it can be processed further.
Conclusion
Online EPF application is a convenient and hassle-free way to apply for EPF services. Employees can apply online and track their application status, making the process transparent and efficient. If you have not yet activated your UAN or verified your KYC details, make sure to do so before applying for any services online.
