EPF: Procedure To Fill Form 10C Online

Leave a Comment / EPF-ESI: Queries & Solutions / By

Loading

Employees ‘Pension Fund (EPF) or Employees’ Pension Scheme (EPS) is an EPFO-funded retirement scheme for workers working in established workplaces. In that particular company, both the employee and the employer contribute to EPF during the service time of an individual using the Universal Account Number (UAN). UAN is a specific number allocated to all EPFO members and the number consists of 12 digits. An EPF certificate comprises an individual’s employment specifics, family details and his / her period of service. You can either withdraw the pension amount or transfer it to a new one by filing the EPS Scheme Certificate when you switch your job. However, after 180 days of continuous service and before the end of 10 years of service, the accumulated pension amount can be withdrawn using Form 10C.

Advantages of EPF Scheme Certificate

Three sets of members who fulfill specific eligibility standards get the privileges of Form 10C at their discretion. The eligibility requirements for member type 1 are defined as follows:

  • Before completing 10 years of service, an employee resigned from his employment.
  • An employee aged 58 years, before serving 10 years of continuous employment
  • Before permanent retirement, he / she can use PF withdrawal post-filing Form 10C for their EPF.
  • Employees who have worked for 10 years before hitting 50 years of age and individuals over 50 and below 58 years of age can apply for EPF Form 10C
  • A type 3 member who is a legitimate heir or a nominee to a deceased individual after 58 years of age without 10 years of service being completed.

After filing EPF Form 10C, the individual can take advantage of withdrawal benefits. If any individual has retired from service due to any physical harm, after filing Form 10D, he / she can also withdraw his / her EPS under disability allowance. There are also some perks to the Scheme Certificate, which will be offered to Member Type 2. Those are-

  • It serves as documentation of an employee’s decades of employment.
  • If the individual is unable to find a job after retiring from their former career, the employee can use the EPF withdrawal using Form 10C.
  • In the condition that the employee dies before the age of 58, the individual’s family members or legal nominees can withdraw the balance from his or her EPS account.
  • The eligibility conditions for the 3 types of members are covered below:

For Member 1

  • Failed to complete ten years of employment.
  • Turned 58 years prior to 10 years of continuous employment

For Member 2

  • Fulfilled 10 years of service before the age of 50
  • He or she is older than 50, but less than 58 years of age.

For Member 3

  • Legitimate successor or nominee of a deceased individual who was more than 58 years of age and was unable to achieve 10 years of service.
Documents required while filing Form 10C

The following documentation must be provided by individuals during the application process:

  • Scan copy of a blank or cancelled cheque.
  • Birth Certificate of the children of the employee or member (in case of application for a scheme certificate).
  • Certificate of death and succession if applicable to the legitimate heir of a deceased individual.
  • It is necessary to attach a Re 1 revenue stamp with the EPF Form 10C.
Protocols for affirmation

Depending on the following context, the EPF Form 10C must be attested by either the employer or both employer and employee.

  • In an instance, a member has submitted using a form collected from a centre; it must be attested or affirmed by their employer of the former organisation.
  • If the member has downloaded the EPF Form 10C electronically, the form needs to be certified by both employer and the employee
  • In the situation that the previous establishment is a closed entity, the form must be approved by the following officials: Magistrate; Postmaster; Chairman or Representative of District Local Board; Gazetted Officer; Bank manager appropriate to the savings account of the member, Representative of Village Union or Panchayat.
Specifics you need to fill in EPF Form 10C
  • The claimant’s name.
  • Father’s name or Husband’s name (if applicable)
  • Date of birth
  • A company’s address and name where an individual was working prior to retirement.
  • Office code, establishment code no. and account number of the establishment
  • Date of Joining the company
  • Reason of quitting the service and applicable date
  • Full address of the claimant
  • Approval that a scheme certificate will be approved by an individual regardless of withdrawal privileges.
  • Family specifics of the spouse and children (if any), and legitimate heir or nominee
  • In the instance of a deceased person, the date of demise and the name and relationship between the claimant and the late member.
  • Remittance type i.e. (postal order, cheque or savings account)
  • Employee and employer’s acknowledgement (along with the seal of the organisation)
  • Advance Stamp Receipt-pension settlement receipt in the bank account
Procedure to fill Form 10C Online

An individual can withdraw the pension balance when, at minimum after 6 months of consistent operation before switching the job and before the end of 10 years of service. Follow the below listed steps in case you want to withdraw the pension amount rather than transferring it to the new account.

  • Sign in to EPF Member Portal using the required credentials i.e. UAN and password
  • Now under the “Online Services” section, select “Claim (Form – 31, 19 and 10C)” option
  • Now you need to enter the your bank account number and then click on the “Verify” option
  • Sign the “Certificate of Undertaking” and accept the terms and conditions by clicking on ‘Yes’
  • Now under the drop-down section “I want to apply for”, select “Only Pension Withdrawal (Form 10C)”
  • Now specify your complete address, accept the disclaimer and click on the “Get Aadhaar OTP” option
  • Now an OTP will be delivered to your mobile number registered with Aadhaar (UIDAI).
  • Enter the OTP on the required space and click on “Validate OTP and Submit Claim Form”
  • Your pension claim form will be processed and, after confirmation by the EPFO, the amount will be disbursed into your bank account.
Don’t let it miss by you

For investors looking for assured returns, EPF is a lucrative strategy. Nevertheless, in the context of such schemes, the rate of return is capped. On the other hand, a substantial amount of returns can be generated by market-linked investment strategies such as Mutual Funds. For better yields, individuals can invest the balance they withdraw from their EPF account into Mutual Funds or small savings schemes. After 1 month of unemployment, they can withdraw 75 percent of the EPS corpus after filing Form 10C and after 2 months, the remaining balance can be withdrawn.

We are providing practical training (Labor Laws, Payroll, Salary Structure, PF-ESI Challan) and Labor Law, Payroll Consultant Service & more:

To Get Latest HR, IR, Labor Law Updates, Case Studies & Regular Updates: (Join us on Social Media)

Leave a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!