How to Close PF Account Permanently

The Provident Fund (PF) is a vital financial tool designed to provide employees with a secure retirement corpus. Governed by the Employee Provident Fund Act, 1952, it ensures regular savings through employer and employee contributions, earning annual interest. While PF accounts are primarily intended for retirement savings, there may be circumstances that necessitate closing the account permanently. Whether you are retiring, emigrating, or facing prolonged unemployment, understanding the process of closing a PF account online can help you avoid delays and ensure a smooth transition.

Additionally, once you withdraw your PF savings, reinvesting the funds wisely can amplify your financial security. Bajaj Finance Fixed Deposit offers a reliable solution for parking your PF withdrawal amount, enabling you to earn assured returns and grow your savings. Check latest rates. 

Closing an Employee Provident Fund (EPF) account permanently is possible under specific circumstances such as retirement, unemployment exceeding two months, permanent emigration, or chronic illness. However, it is essential to understand that PF accounts are generally transferable when switching jobs, and permanent closure is typically reserved for situations where employment ceases indefinitely.

Key scenarios for closing your PF account:

• Retirement: Full withdrawal of EPF and EPS amounts after reaching retirement age.
• Unemployment: If unemployed for over two months, you can close your account.
• Permanent emigration: PF accounts can be closed when relocating abroad permanently.
• Chronic illness: Medical emergencies may qualify for account closure.

Consider reinvesting your withdrawn funds into Bajaj Finance Fixed Deposit to ensure financial stability during challenging times. With attractive interest rates and flexible tenure options, it’s a secure way to grow your savings while addressing your needs. Book FD. 

Closing your PF account permanently involves a systematic approach. Here are the steps to ensure a hassle-free process:

1. Verify eligibility: Ensure you meet the criteria for permanent account closure, such as retirement or prolonged unemployment.
2. Complete KYC compliance: Link your Aadhaar, PAN, and bank details to your account.
3. Choose the withdrawal method: Opt for either the online or offline process based on your convenience.
4. Submit the required forms: Fill out the Composite Claim Form (Form 19 or Form 10D based on eligibility).
5. Track your application: Use the EPFO portal to monitor the status of your claim.

Withdrawing funds from your EPF account is an integral part of closing it. The process can be completed either online or offline, depending on your preference. Below are the detailed steps for both methods:

Online process for PF withdrawal

1. Visit the official EPFO portal and log in using your Universal Account Number (UAN), password, and captcha.
2. Navigate to "Online Services" and select "Claim (Form-31, 19, 10D & 10C)."
3. Fill in the required details and choose "Only PF Withdrawal (Form 19)."
4. Authenticate the claim using Aadhaar OTP.
5. Submit the application. A reference number will be generated for tracking.
6. Funds are credited to your bank account within 15–20 days.

Offline PF withdrawal process

1. Download the Composite Claim Form (Aadhaar or Non-Aadhaar) from the EPFO website.
2. Fill out the form with your personal and employment details.
3. Submit the form to the jurisdictional EPFO office:
   • Aadhaar Form: Employer attestation is not required.
   • Non-Aadhaar Form: Employer attestation is mandatory.
4. Funds are credited within a few weeks.

Documents required for PF withdrawal

To ensure smooth processing of your PF withdrawal claim, keep the following documents ready:

• EPF Close Account Form.
• Bank account details linked to UAN.
• Cancelled cheque with account number and IFSC code.
• Identity proof, such as Aadhaar card.
• Address proof.
• Additional documents, if applicable:
  • Resignation letter or termination proof.
  • Immigration documents (for relocation abroad).
  • Form 15G/15H (to avoid TDS deductions if eligible).

After withdrawing your PF savings, you can secure your financial future by reinvesting the amount in Bajaj Finance Fixed Deposit. Open an FD account and get up to 7.30% p.a. returns. 

Closing your PF account permanently can be a straightforward process if you follow the prescribed steps and ensure all required documents are in place. However, withdrawing your PF savings should be a well-thought-out decision, particularly considering its impact on your retirement planning. To make the most of your withdrawn funds, consider reinvesting them in secure and high-return options like Bajaj Finance Fixed Deposit. 

With interest rates up to 7.30% p.a. for senior citizens and flexible tenure options, Bajaj Finance Fixed Deposit ensures your savings continue to grow while offering the stability you need for future financial planning. Open FD.