Unclaimed EPF Account

Home / Glossary / Saving Schemes / Unclaimed EPF Account

What is an Unclaimed EPF Account?

An unclaimed EPF (Employees’ Provident Fund) account refers to a provident fund account that remains inactive for a prolonged period due to the account holder’s inaction. According to EPFO (Employees’ Provident Fund Organisation) regulations, an EPF account is classified as unclaimed if there has been no contribution or withdrawal for 36 months.

How to Withdraw Money from an Unclaimed EPF Account

If you have an old PF account with an unclaimed balance, you can withdraw the funds by following these steps:

Check EPF Balance: Visit the EPFO portal and log in using your Universal Account Number (UAN) and password.

Verify KYC Details: Ensure your Aadhaar, PAN, and bank account details are linked and verified on the EPFO portal.

Submit a Withdrawal Claim:

Log in to the UAN Member e-Sewa Portal.
Select ‘Online Services’ and click on ‘Claim (Form-31, 19 & 10C)’.
Fill in the required details and submit the claim.

Approval from Employer: Your employer needs to approve the claim request.

Receive Amount in Bank Account: Once processed, the EPF amount is credited to your registered bank account.

You may also want to know UCO Bank Senior Citizen Savings Scheme

Unclaimed PF Balance: How to Check

To check the unclaimed PF balance, follow these steps:

Visit the EPFO Member Passbook Portal.
Log in with your UAN and password.
Select your old PF account and view the balance.
If your old employer details are unavailable, use the Inoperative Account Helpdesk to retrieve information.

Employees Provident Fund and Its Importance

The Employees’ Provident Fund (EPF) is a retirement savings scheme managed by EPFO. Both employees and employers contribute a portion of the employee’s salary to the EPF account every month. EPF ensures financial security for employees after retirement.

How Can Employees Access Their Old PF Money?

Employees can retrieve their old PF money through these methods:

Online Claim: Using the EPFO portal.
Offline Claim: Submitting a withdrawal form (Form-19, Form-10C) at the regional EPFO office.
Claim via Aadhaar: If Aadhaar is linked, withdrawals can be processed easily online.

How to Claim Old PF Amount?

Employees can claim their old PF balance by:

Merging Old PF Accounts: Using the UAN-based account transfer process.
Using EPFO Inoperative Account Helpdesk:
- Submit a request to locate your old PF account.
- EPFO will contact your previous employer.
- If verified, funds will be transferred to your active PF account.

Withdraw EPF Online: Step-by-Step Guide

Log in to EPFO e-Sewa Portal.
Navigate to ‘Online Services’.
Select ‘Claim (Form-31, 19 & 10C)’.
Enter bank details and verify OTP.
Submit the claim form.
Track the claim status under ‘Track Claim Status’.

You may also want to know ICICI Bank Senior Citizen Saving Scheme

How to Withdraw Old PF Online from Unclaimed EPF Account?

Visit the EPFO website and log in with your UAN.
Select ‘Transfer Request’ to consolidate multiple accounts.
If withdrawal is required, select ‘Claim Online’.
Upload necessary documents (Aadhaar, PAN, bank details).
Submit the request and track status.

EPF Contribution and EPFO Employees

EPF Contribution: Employees contribute 12% of their salary, and employers contribute an equal amount.
EPFO Employees: The EPFO manages contributions and ensures smooth claim processing.

EPFO Regulations on Unclaimed Accounts

According to EPFO regulations:

Unclaimed EPF accounts continue to earn interest even if they remain inactive.
If not withdrawn by retirement age (58 years), funds can be claimed by the nominee or legal heir.
The government aims to simplify access to old EPF funds via the Inoperative Account Helpdesk.

Conclusion

Unclaimed EPF accounts can be easily accessed and withdrawn using online and offline methods. Employees should check their UAN status, merge old accounts, and claim their rightful funds before retirement. EPFO ensures a streamlined process to help employees withdraw their unclaimed EPF money hassle-free.

Frequently Asked Questions

How can I check if I have an unclaimed EPF account?

You can check it by logging into the EPFO Member Portal using your UAN and checking your previous employer’s PF contributions.

Can I withdraw money from my old EPF account online?

Yes, you can withdraw it online by submitting a claim request via the UAN Member Portal.

What happens if my EPF account remains unclaimed for years?

Unclaimed EPF accounts continue to earn interest and can be withdrawn anytime.

Can I transfer my old PF balance to my new PF account?

Yes, you can transfer old PF balances using the EPFO Online Transfer Facility.

What documents are required for EPF withdrawal?

Aadhaar, PAN, UAN, bank account details, and a cancelled cheque are required.

How long does it take to withdraw unclaimed EPF money?

Processing typically takes 5 to 20 days, depending on verification and employer approval.

Can I withdraw EPF without employer approval?

Yes, if your Aadhaar is linked and KYC is verified, employer approval is not mandatory.

Is TDS applicable on EPF withdrawals?

TDS is applicable if withdrawn before 5 years of continuous service and the amount exceeds Rs. 50,000.

Open Free Demat Account

Related Terms

Explore our feature-rich web trading platform

Get the link to download the App