EPF Form 31
EPF Form 31
Form 31 of the Employees Provident Fund serves as an application for partial withdrawal of funds from the entire corpus that is reserved for retirement purposes. Such withdrawals can be availed for the purpose of acquiring loans, medical treatments, house renovations, education, etc. This article explores the form with respect to its facets, its usefulness to the employees, conditions for withdrawal and the filing requisites.
Applicability and Conditions
The provision of partial withdrawal applies to employees who have been continuously contributing to the fund for a specific duration. It may be noted that the eligibility criteria would differ based on the circumstances of withdrawal. These circumstances, as well as the withdrawal conditions pertaining to it, are explained below:
Withdrawal of partial funds is accorded for house works such as the purchase or addition, alteration, improvement, house repairs, and construction of houses (including the acquisition of site). Withdrawals of 24 months’ pay (Basic +D A) is allowed for the purchase of plot, whereas withdrawal of 36 months of the same components is approved for the purchase of a house, flat, construction or total cost (whichever is lower). Withdrawals for this purpose can only be availed by employees who have completed five years of service.
Repayment of Loans
Withdrawals for loan repayments are allowed in special circumstances for employees who have completed ten years of service. The facility can be utilized by furnishing a certificate of the lending agency that certifies the principal and interest to be remitted. An EPF member may withdraw the lower among the three mentioned below:
- The total pay for 36 months
- A total of employee’s and employer’s share with interest
- The total outstanding principal
Grant of Advances
Grant of advances is facilitated if:
- The establishment has been locked out or closed for more than fifteen days, which renders the employees unemployed without compensation.
- The employees haven’t received their dues for more than two months continuously for reasons other than a strike.
- Discharge, dismissal, or retrenchment of members challenged by him/her in court.
- Closure of the establishment for more than six months, which has resulted in unemployment without compensation.
Advance for an Illness
Illness advances can be withdrawn for treating any illnesses of the employees or their family members. Medical withdrawals do not hold any service limits, but the members opting for this facility may need to produce a medical certificate.
Advance for Marriage and Education
An EPF member may obtain advances for meeting the marriage expenditures of self, daughter, son, brother, sister or post matriculation education of son/daughter. The facility can be availed by investing for a period of seven continuous years into the fund. The quantum of withdrawal can amount to a maximum of 50% of the employee’s share and interest. Not more than three service-period withdrawals are allowed for this purpose.
Physically Handicapped Members
Physically-handicapped members can make an application for partial withdrawal to purchase equipment that minimizes their hardship. Such members may enjoy any of the following withdrawal benefits:
- The lowest of the six-months’ pay
- The employees share with interest
- Cost of equipment of withdrawal.
One-Year Before Retirement
Partial withdrawals are allowed for EPF members after 54 years of age and before one year of retirement, whichever is later. Such withdrawals cannot amount to more than 90% of the amount in the EPF account.
The EPF member may apply for the claim form by following the procedures specified below:
Step 1 – the member may initiate the download procedure by logging in with his/her UAN and password on the EPFO members’ portal.
Step 2 – for generating an online request, the ‘Claim’ option must be selected from the ‘Online Services’ tab.
Step 3 – the following page will depict all the details of the member such as the name, date of birth, father’s name, PAN number, Aadhar number, date of joining the company, and mobile number. The member may verify such information before clicking on ‘Proceed for Online claim’.
Step 4 – in the following page, the option ‘PF ADVANCE (FORM 31)’ must be chosen from the drop-down menu that lists out the type of forms.
Step 5 – The purpose of the advance must now be selected from the given options. The sum of money required and his/her address must be specified in the very next field.
Step 6 – the final step involves the signing of disclosures, upon which the applicant can request for an OTP. The Claim Form can be submitted by entering the OTP, after which the form can be downloaded.
Contents of the Form
Form EPF 31 must be filled in by the employee, employer, and the EPF commissioner. The particulars to be specified by each of them has been listed below:
- His/her mobile number
- The purpose for the Advance
- Name of the Member
- Name of the father or husband
- Name and address of the employer
- PF Account Number
- Monthly basic wages and dearness allowance
- Complete postal address of the applicant
- The beneficiary of the cheque (for specific purposes such as home loans, EMIs, etc.), or bank details
- Name, age, date of marriage and address (for marriage advances)
- Advance Stamp Receipt
- Certification of the employer
- Signature, date and designation (along with the stamp of establishment)
EPF Commissioner’s Part
- Account Number
- Fund to be reimbursed
The form has been herewith attached for the reference of the user.Form 31 EPF
|Purpose of Withdrawal||Documents Required|
|Purchase of House||Declaration and Registration Certificate of the property|
|Repayment of Loans||Outstanding principal and interest certificate from the lending agency|
|Grant of Advances in special cases||Certificate from the employer|
|Medical Illness||Certificate from the employer and the doctor|
|Physically Handicapped||Certificate from the concerned doctor|
|Education||Bonafide certificate from the concerned educational institution|