EPF claim-withdrawal provisions

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PROVISIONS OF THE EMPLOYEES' PROVIDENT FUND SCHEME 1952 ON SETTLEMENT OF EMPLOYEES' PROVIDENT FUND CLAIMS For reading material refer : Employees' Provident Fund Scheme, '52 - para 69 , 70 , 72(1) , 72(2) , 72(3) , 72(3A) , 72(4). Forms prescribed for claiming the Provident Fund dues : By a member :through Form 19 On death of member by nominee/family member(s)/legal heirs: through Form 20 SETTLEMENT UNDER PARA 69-TO MEMBER: THROUGH FORM No.19 Immediate settlement without waiting period of 2 months Settlement only after a waiting period of two months 69(1)(a) Retirement after attaining 55 years of age. 69(1)(e)(i) transfer of a non retrenched employee from a closed establishment to uncovered establishment. 69(1)(b) Retirement on account of total and permanent incapacity due to bodily or mental infirmity . 69(1)(e)(ii) Transfer of an employee from a covered establishment to an un-covered establishment under the same employer. 69(1)(d) Termination of service on retrenchment. 69(2) Other cases viz. Resignation, Leaving service, etc. 69(1)(dd) Termination on V.R.S Note: For female members leaving service for the purpose of getting married; waiting period not applicable. 69(1)(c) Migration from India for permanent settlement abroad or taking employment abroad. 69(1)(e)(iii) Members discharged & retrenchment compensation paid under I.D. Act 1947. Settlement under para 70: (Accumulation of a deceased member) through Form No. 20 70(i) If a nomination exists, payment is made to the nominee in accordance with Form 2(R) . (Nomination and Declaration Form). 70(ii) If no nomination subsists, payment is to be made to every member of his family (as defined under para-2(g) of Employees' Provident Fund Scheme 1952) in equal share. For the purpose of this paragraph, a member's posthumous child, if born alive , shall be treated as a surviving child, born before the member's death. But the following will not be eligible for any share, if other family members are available to receive the accumulations. 1. Major sons , 2. Major sons of a deceased son , 3. Married daughters whose husbands are alive , 4. Married daughter of a deceased son whose husbands are alive. 70(iii) In cases where para 70(i), 70(ii) , does not apply, the payment is to be made to the person who is legally entitled to it, vide para 70(iii). In case there is no nominee and also there is no person entitled to receive the amount, if the amount to the credit of the fund does not exceed Rs. 10,000/-, the Commissioner may pay such amount to the claimant after enquiry and after satisfying the title of the claimant. When the payment is to be made to a minor, it is payable to : 1. The Guardian appointed under Guardian and Wards Act 1890 , failing (a), to 2. The Guardian appointed by the member as per para 61(4A), failing (a),(b), to 3. To the natural guardian of the minor, failing (a) (b) (c), to 4. To the person , considered to be the proper person by the commissioner when the amount not exceeding Rs.20,000/- or the person considered to be the proper person , by the Chairman , C.B.T where the amount exceeds Rs. 20,000/- . Para-72(3) When the payment is to be made to a lunatic person , it is payable to: 1. The Manager appointed for the minor's estate under Indian Lunacy Act ,1912 failing (a), 2. The natural guardian of the lunatic, failing (a)(b), 3. To the person considered by the Commissioner as proper person , amount not exceeding Rs.20,000/- or to person considered by Chairman C.B.T as proper person amount exceeding Rs. 20,000/-. Para-72(3A) Note: Maximum amount payable by money order is Rs.2000/- and beyond that by cheque. If the amount is beyond Rs. 500/-, the M.O. cost will be borne by the claimant. Para 70(A): If a person entitled to received a share in the Provident Fund accumulations of a deceased member is charged with committing the murder of the member or with abetting the crime, the share payable to such person shall be retained till the case is finalised . If, subsequently he/she is exonerated, the share will be paid to him/her. If such a person is found guilty and convicted, the share will be paid equally to other person(s) entitled to receive the accumulations. WITHDRAWALS Types of Benefit Eligibility Eligible Amount Form Documentary Support The purchase of site for construction of house 5 Years of membership of the Fund (Minimum balance in l 24 months wages (Basic & DA) OR l Member's own share of No.31 A declaration from the member that, dwelling site or dwelling house/flat or the house under construction is free from encumberances and the same is member's a/c should be Rs. 1000/-) * The purchase should be in favour of member or member spouse. contribution + Company's share of Contribution with interest thereon under the title of the member or the spouse (notification dated 25.2.2000) The Construction of House 5 Years of membe