Income Tax PF Registration

All you need to know about EPF Form 10C

Employees’ Provident Fund (EPF) is a retirement benefits scheme which is available to all the employees earning a salary. Under this, a member invests a part of his salary every month, and the employer also makes an equal contribution towards EPF and EPS accounts of the employee. This fund is maintained under the Employees Provident Fund Organisation of India (EPFO). When you change job, you can either withdraw the pension amount or can transfer it to the new one by submitting an EPS Scheme Certificate. However, you can withdraw the accumulate pension amount using Form 10C after 180 days of continuous service and before completion of 10 years of the service period.

What is Form 10C?

At the time of employment, the employee has a pension fund which he keeps secured with the government for his retirement. Further, if the employee has changed his/her job, the employee can carry forward the same account to his new company. However, if the employee fails to find a job, the employee may apply for withdrawal of funds. Thus, to avail the benefits and at the same time, retain the membership with Employee Pension Fund (EPF) the employee files a Form 10C.

Eligibility to apply in Form 10C

The eligibility to apply in Form 10C is as follows:

• Who left the job before the completion of 10 years of service
• who obtained 58 years of age before end of 10 years of service, whether in service  or having left
• A member though having completed ten years of service, but has not attained the age of 50 years at the time application is made
• Who is more than 50 years of age, but not exceeding 58 years, and not willing for getting a pension at a reduced rate.
• 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 ten years

Benefits available in Form 10C

Form 10C helps in claiming:

1. Employer share refund
2. Scheme certificate for member retention
3. Withdrawal benefit

Have a look at them in detail:

Scheme Certificate: You can claim this certificate when the complete period of service of your employment is:

•  More than 9.5 years, and
• You have still not reached the age of 50 years as of application date.

Withdrawal Benefit: This certificate is issued if you have been in service for less than 9.5 years, and has not reached the age of 50 years as of application date. Also, the scheme allows you to withdraw your pension money before attaining the age of retirement

 Details required in Form 10C

Some of the essential information needed for Form 10C are:

• Claimant’s Name
• UAN/ Pension Number
• Aadhaar Number:  
• Father’s name/Husband’s name (in case of a married woman)
• Date of birth
• Date of joining and date of leaving the organization
• PAN and reason for leaving
• Bank account details
• Full Postal Address
• Signature of the employee and employer with the organization’s seal

Moreover, you need to be cautious at the time of filling the above details without any strikes/ corrections/ overwriting. In case of any corrections, it shall be attested.

How to file Form 10C?

Follow the below important instructions:

• Step 1: Go to the EPF Member Portal and login
• Step 2: Click on “Claim (Form-31, 19& 10C)” from the “Online Services” menu   
• Step 3: All your details are auto-populated. Only mention the last 4 digits of your bank account number
• Step 4: Click on the tab “Verify”   
• Step 5: Now, select “Yes” to agree to the terms and conditions of the “Certificate of Undertaking” page
• Step 6: Go on “Only Pension Withdrawal (Form 10C)” from “I want to apply for” section
• Step 7: Further, Mention your address
• Step 8: Put a tick on the disclaimer
• Step 9: Further, select “Get Aadhaar OTP” button
• Step 10: Next, mention the OTP you receive on your mobile number registered with Aadhaar and click on “Validate OTP and Submit Claim Form”
• Step 11: Finally, Once the verification is done by the EPFO, you will get the fund in your bank account

How can Enterslice help you?

A professional help can help in you saving your taxes and filing income tax return precisely. This is when we come into the picture. You can either use our tax filing platform to easily file your tax return or let our tax experts file it for you. Besides, we have a team of in-house tax experts who can accurately file your tax returns online while giving you maximum tax benefits.

In case of any other information, you can reach to us or can drop a mail at info@enterslice.com.

Also Read: All about EPF (Employee Provident Fund)