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What is the use of 10C form?
Employees whod like to withdraw their pension amount in certain cases without fulfilling the basic withdrawal criteria can use Form 10C for withdrawal. The form can be filled and submitted online or offline for requesting the pension amount.
How can I withdraw my PF pension amount?
You can claim both PF and EPS amount if you haven’t completed 10 years of service. You will just have to fill the Composite Claim Form and choose both the options ‘Final PF balance’ as well as ‘pension withdrawal’. If you are planning to work again you can submit the Form 10C and get the ‘scheme certificate’.
Why is my form 10C rejected?
Insufficient Service. Insufficient Service rejection means that you have not served your service for a min. duration of 6 months. In such scenarios, you would be able to apply for EPF Withdrawal using Form 19 but cannot apply for EPS(pension) withdrawal using Form 10C.
How can I withdraw my PF 10C?
Visit the website of the Employees’ Provident Fund (www.epfindia.gov.in). Sign into the UAN member portal using your Universal Account Number (UAN) and password. In the top menu bar, click on the tab ‘Online Services’. From the dropdown menu, select Claim Form 10C, 19, and 31.
When can I withdraw my pension?
You can start taking money from most pensions from the age of 60 or 65. This is when a lot of people typically think about reducing their work hours and moving into retirement. You can often even start taking money from a workplace or personal pension from age 55 if you want to.
How long does form 10C take to process?
After completion of the EPF withdrawal form 10C filing process, you will receive an SMS notifying the same. The accumulated amount will be transferred to your registered bank account within a few days.
How can I withdraw my PF and pension amount online?
Complete Process on how to withdraw pension contribution in EPF
- Go to the official website of EPF and login using your credentials.
- You will have to enter your UAN and password.
- Now you will find a tab stating ‘Online Services’
- Click on the relevant form (Form 10C or Form 10D) from the menu.
Do I have to pay tax on EPF withdrawal?
As per the provisions of the Income-Tax (I-T) Act, 1961, the accumulated balance in EPF that is payable to an employee is excluded from the computation of the total income, in case certain conditions are met. This means the withdrawal is exempt from tax and the individual need not show the same in the return as income.
Can I apply EPF withdrawal online?
EPF Online Withdrawal (e-pengeluaran) provides fast and secure access to your EPF account. Manage your loan repayment/financing payment easily and conveniently, without the hassle of visiting bank branches.
How do I claim 10C?
Step 1 – Scroll down to the Employers Portal tab and click on it. Step 2 – In the next page, enter your UAN number and password in the Username and password section. Step 3 – Select the tab “Online Services” from the menu bar at the top. Step 4 – Click on ‘Claim Form 10C, 19, and 31’ from the dropdown menu.
Is form 10C mandatory for PF withdrawal?
Form 10C is a form that should be filled and submitted when claiming benefits under the Employee Pension Scheme (EPS). Every month a part of the overall PF contributions is segmented into the Employee Pension Scheme, and this section of the proceeds from your PF account can be withdrawn using Form 10C.
Who is eligible for Form 10C?
Eligibility to Apply for Form 10C Family members/ nominee/ legal heir of a deceased member who died after attaining the age of 58 years but with number of completed years of service less than 10 years.
Can I claim my pension early?
If you have a defined benefit pension, you can usually begin taking it from the age of 60 or 65. You might be able to start receiving an income from it at age 55. However, the income you get is likely to be reduced, as you’re taking it earlier than the normal pension age of the scheme.