PF Form 19

PF is an account allotted to every employee through a UAN (Universal Account Number). You can log into the Employees' Provident Fund Organisation (EPFO) portal through your UAN number and password and check your balance and other details. A fixed portion of your salary is deducted every month and deposited in this account along with the employer's contribution of an equal percentage. The deposited amount is eligible for withdrawal post-retirement with the benefit of accrued interest at the rate of 8.50%

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Eligibility Criteria

The following people are eligible to be a member of the EPF enrolment:

  • Salaried person

  • Any person hired through a contractor or engaged as an apprentice as defined by the Apprentices Act of 1961

  • Any person under the standing orders of an establishment earning less than or equal to Rs. 15,000 per month (under section 17)

Generally, a PF form 19 is used to withdraw funds from the account for a final settlement, especially after retirement. Look through various aspects of PF Form 19 below in this article.

Sections of the PF Form 19

The various sections of the PF Form 19 are as follows:

  • Member’s name

  • Father’s name (or name of the husband if you’re a married woman)

  • Birthdate

  • Account number of Provident Fund and UAN (Universal Account Number)

  • Address and name of the establishment, organization, or factory

  • Reason for resigning or leaving the service

  • Date of resigning or leaving the service

  • Date of joining the company or establishment

  • PAN number (Permanent Account Number)

  • Postal address

  • Mode of payment

People also read: best retirement plan

Withdrawal System of the EPF 

One can withdraw EPF funds from the account at the time of retirement, at the age of 58. One can also opt for early retirement any time after the age of 50. If the service is terminated, a member can withdraw a part of his PF. 

If the employee dies before retirement, the nominee decided by the employee gets the whole benefit of the accrued funds and interest.

You can also partially withdraw funds for the following purposes:

  • Education

  • Finance problems caused due to natural calamity

  • Home loan repayment

  • Marriage

  • Land or property purchase

  • Establishment or closing of factory

  • Medical treatment

  • Unemployment for more than one month

To withdraw funds, you need to submit a duly filled Form 19. 

Documents Required

EPF Form 19 is a two-page form that requires members to fill in the following information:

  • Details of the PAN

  • Bank account number and IFSC code (must be the same account as one's current employer's account)

  • 15G/15H form

  • Account number for the Provident Fund

  • Start date and end date of employment 

  • Residential address mentioned in the Aadhaar card or postal address

  • Preferred method of remittance (cheque/ money order/bank details)

  •  Revenue stamp of Rs 1 (if the form is filled offline)

  • Cancelled check

How to Fill the Form?

You can fill this form by visiting your nearest PF office. In case of online, you can visit the EPFO portal and follow the below-mentioned steps:

  • Enter your UAN number, i.e., Universal Account Number, your password, and the captcha that appears on the screen to log in to the EPFO website.

  • Select and click on "Claim (Form – 19, 31 & 10 C)" from the "Online Services" option once you've logged in.

  • After that, click on "Verify" and enter the last four digits of your bank account number. Ensure that the account number entered is the one that is linked to your PF (Provident Fund) account.  

  • Once you add the account number, a "Certificate of Undertaking" will pop up. Select "Yes." 

  • Then, under the "I wish to apply for" option, choose "Only PF Withdrawal (Form – 19)" from the drop-down menu. 

  • Check the next page and select the "Get Aadhaar OTP" option once it appears on the screen. 

  • An OTP will be sent to the mobile number registered with your PF account. Enter the OTP to verify the account. 

  • You will be given a reference number for the process after it has been completed.

  • The PF amount will be deposited in the member's bank account once the employer authorizes the request.

Advantages of PF Form 19

The advantages of the PF Form 19 are as follows: 

  • The form is easy to understand. The online service saves you time and effort. 

  • You can complete the whole process from the comfort of your home without having to go anywhere. 

  • After submitting the online application, the process is completed within a week. You should note that the member's Aadhaar number must be linked to their UAN. 

  • Members can conveniently withdraw provident funds through a single platform. The single-page form also eases the process and makes public services open and efficient for the subscribers.

In Conclusion

The PF is an easy and important scheme made mandatory by the government for the benefit of the working class, especially salaried individuals. It helps you stay financially secure and self-sufficient for your retirement years. 

PF also brings disciplined savings for individuals that can be also used in times of emergency. It is one of the safest forms of financial instruments that offer the security of return without any loss.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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