How to Withdraw PF Gratuity and EPS Money after Leaving the Job

Transitioning from one job to another can be both exciting and daunting. One of the important tasks during the process is withdrawing your PF (Provident Fund) gratuity and EPS (Employer Pension Scheme) money. This article will guide you through the process, step-by-step, ensuring that you don’t miss out on any benefits due to confusion or administrative hurdles.

Understanding PF and EPS

Provident Fund (PF) and Employer Pension Scheme (EPS) are two significant components of your employee benefits. PF is a savings plan where a portion of your salary is compulsorily credited towards your PF account, while EPS provides a pension benefit in case of retirement or resignation.

Withdrawal Process for PF and EPS

When you leave your job, you have the option to withdraw your PF and EPS money. This can be done either by submitting online forms or seeking assistance from experts. Here is a detailed guide to the process:

Step-by-Step Guide to PF Withdrawal

1. Gather Necessary Documents: Before you begin, make sure you have all the required documents, such as your PAN card, employment termination letter, and PF account details.

2. Apply for PF Withdrawal: You can apply for PF withdrawal either online or offline. For an online application, visit the official website of the Employee Pension Scheme (EPS) or any recognized government portal.

3. Fill in the Application Form: Follow the instructions carefully and fill in the necessary information. There are two principal forms you need to complete:

Form 19 for PF (Provident Fund) and EPS Withdrawal: This form allows you to apply for the withdrawal of both your PF and EPS money. Form 10C for EPS: If you only wish to withdraw EPS money, you can use this form. This form is not mandatory if you have already applied through Form 19.

4. Submit the Application: Once you have filled out the form, submit it to your former employer or as per the instructions provided on the website.

5. Payments: After the application is processed, the funds will be transferred to your bank account. This usually takes a few weeks.

Step-by-Step Guide to Withdrawal of Gratuity

Gratuity is a lump sum payment given to employees upon leaving their job, provided they have served for a minimum of five years. Here are the steps to withdraw gratuity:

1. Check Eligibility: Confirm if you are eligible for gratuity based on the tenure of service.

2. Submit a Claim: If eligible, you or your employer should submit a gratuity claim. Form 12A is used for this purpose.

3. Get the Claim Processed: Your employer will liaise with the Employee State Insurance Corporation (ESIC) to process the claim. This process can take a few months.

4. Payment of Gratuity: Once the claim is approved, the gratuity amount will be paid to you or your designated beneficiaries.

Seeking Expert Assistance

If you find the process overwhelming or face any difficulties, it's advisable to seek assistance from experts. Experts like Rao Vinod Singh Yadav are experienced in handling such processes and can guide you through the steps, alleviating any stress or confusion.

Feel free to reach out with any further questions or to receive assistance. Your financial well-being is important, and we’re here to help.

Key Takeaways

PF and EPS can be withdrawn after leaving the job. Use online forms for a smoother withdrawal process. Seek assistance if you need it to ensure a stress-free transition.

Keywords

EPF withdrawal, PF gratuity, EPS money