When an employee retires from a company, he has two options. If that employee again becomes a part of any company, then he can ‘carry forward’ the PF money to that company. Or he can withdraw that money if he wants. Form 10C comes in handy in this.
If Employee Pension Fund is linked to EPF, then this news is for you. EPF is also called Employer Pension Scheme (EPS), which is operated by the government’s pension fund organization EPFO. For those who do employment in organized sectors, pension is arranged from this fund. For this, some part of the salary gets added to the pension fund. As you know that both the company and the employee have to contribute (amount has to be given) to the EPF, so that if the employee retires, he will get a certain amount as his pension. This work is done through Universal Account Number or UAN. Form 10C is also mentioned in this episode.
When an employee retires from a company, he has two options. If that employee again becomes a part of any company, then he can ‘carry forward’ the PF money to that company. Or he can withdraw that money if he wants. Both these options are available with that employee. In such a situation, if that employee wants to withdraw PF money, then it is necessary to fill Form 10C. For this, he should have UAN number which is 12 digit unique number of EPF.
The employee has an EPF certificate containing complete details of his service period and family members. The details of the family are given so that if the employee unfortunately leaves this world, then the PF money can be received by the nominee or legal entitled. All these benefits will be available only when the employee fills Form 10C. Let’s know about it.
How to fill Form 10C
- You can fill this form both online and offline. For this just a few important steps have to be completed. The way to fill the online form is-
- Go to the EPF portal and click on the Employers Portal tab
- Next page will open where you have to enter UAN number and password
- Here in the menu bar you will see the Online Services tab, click on it
- Go to the dropdown menu and click on Form 10C, 19 and 31
- On the next page, check your job, KYC and member details
- Enter the last 4 digits of your registered bank account for verification
- Agree the term and condition of the Certificate of Undertaking
- Go to the bottom of the next page and click on I want to apply for and select Only Pension Withdrawal Form 10C
Now select Get Aadhaar OTP. Enter your address before
You will get an OTP on the registered mobile number. It has to be entered in Validate OTP and Submit Claim Form
After filling the EPF Withdrawal Form 10C, you will get an SMS on your mobile number. After a few days the PF money will be transferred to your bank account. However, not everyone gets the benefit of this form and there are some conditions. If a member has resigned from the job before 10 years of service, if a member turns 58 years old without doing 10 years of service in any company, then he will get the benefit of Form 10C. This form can be availed even before permanent retirement.
What to fill in the form
The form should include the name of the claimant of PF money, birthday, father’s name, husband’s name (if applicable), the name and address of the company the employee worked in before retirement, the previous company in which he worked. The region code and PF account number of that person, the joining date of the previous company, the reason and date of leaving the job, complete home address, complete family details and whether the money is required by postal money order, check or electronic payment, should be given it occurs.
