As an Employees’ Provident Fund Organisation (EPFO) subscriber, you can use your member account for various functions, from checking your account balance to applying for withdrawal or initiating a transfer.
However, you must ensure that the correct EPFO form is filled out for each purpose. For example, if you want to take an advance from your EPFO account, you need to submit a composite form, while Form 14 is required if you wish to finance your LIC policy through your PF account.
If you are working in a company,
If you want an advance from your PF account, you can fill out either the Composite Claim Form (Aadhaar) or the Composite Claim Form (Non-Aadhaar).
The Composite Claim Form (Aadhaar) is applicable when a member’s complete details in Form 11 (New), Aadhaar number, and bank account information are available on the UAN portal, and the UAN has been activated.
Such members can submit this form directly to the concerned EPFO office, without the employer’s attestation.
If you have left the organisationIf an employee has left and joined the firm, he can apply in Form 13 for the transfer of the account.If a member died while in service before 58 yearsFinal settlement of PF through Form 20Monthly pension through Form 10DAnd EDLI insurance through Form 5IFLeft the company and did not join another
You can apply in certain cases after a waiting period of 2 months for the final settlement of PF and the scheme certificate from the pension fund through the composite claim form (Aadhaar) and the composite claim form (non-Aadhaar). (when you have completed 10 years of service).
For all personal finance updates, visit here