CHECKLIST FOR PF/EPS WITHDRAWAL
This is to inform you that certain changes have been introduced by RPFC as listed below:-
1) Introduction of new set of PF withdrawal forms – FORM 19 & FORM 10C (attached herewith)
Going forward please send us the PF & EPS withdrawal forms as per revised format along drafted CHECK LIST (Mandatory) duly filed by ex-employee. Major changes where sign are required:-
DETAILED INSTRUCTIONS TO FILL PF / EPS WITHDRAWAL FORM BY EMPLOYEE
S.No. / FORM 19 / FORM 10-C1 / Employee ID, Personal E-mail ID & Mobile number updated in Form 19 (Mandatory) / Employee ID, Personal E-mail ID & Mobile number updated in Form 10-C (Mandatory)
2 / Member Name must be same in Form 19 and enclosures (ID Proof & Cancelled cheque/Bank Statement) (Mandatory) / Member Name must be same in Form 10-C and enclosures (ID Proof & Cancelled cheque/Bank Statement) (Mandatory)
3 / All columns should be duly filled by member in CAPITAL LETTERS only. / All columns should be duly filled by member in CAPITAL LETTERS only.
4 / Overwriting/cutting/flooding should be avoided on Form 19 / Overwriting/cutting/flooding should be avoided on Form 10-C
5 / At the end of 1st page signature of ex-employee & employer.(Mandatory) / On 1st , 2nd & 3rd page (signature of ex-employee & employer (Mandatory)
6 / On 2nd page signatures of ex-employee on 3 places and employer's signature on 1 place.(Mandatory)
7 / Reason of Leaving should be mentioned on Form 19: Resigned (Mandatory), For all other reason needs to provide self-attested documents by member. / Reason of Leaving should be mentioned on Form 10-C: Resigned (Mandatory), For all other reason needs to provide self-attested related documents by member.
8 / Cancelled cheque/Bank Statement mandatorily bear member's printed name, Bank A/c Number, IFSC Code, Bank & Branch Name & Address and must Carry Member's Signature as well.(Same information must be filled in Form 19) / Cancelled cheque/Bank Statement mandatorily bear member's printed name, Bank A/c Number, IFSC Code, Bank & Branch Name & Address and must Carry Member's Signature as well.(Same information must be filled in Form 10-C)
9 / Self-attested copy of ID proof should be enclosed (any one - PAN Card/Voter’s Identity Card/Passport/Driving License/Aadhar Card) (Mandatory) / Self-attested copy of ID proof should be enclosed (any one - PAN Card/Voter’s Identity Card/Passport/Driving License/Aadhar Card) (Mandatory)
10 / Declaration Letter Should be enclosed with Form 19 (Mandatory) / Declaration Letter Should be enclosed with Form 10-C (Mandatory)
11 / Check list must be enclosed with Form 19 (Mandatory) / Check list must be enclosed with Form 10-C (Mandatory)
12 / Member's and Nominees' self-attested DOB proofs should be enclosed with Form 10-C if member apply for Scheme Certificate/served for more than 10 years.(Mandatory)
2) Joint Declaration letter to be provided by member for PF/EPS settlement along with self-attested ID PROOF (i.e. PAN/Passport/Voter ID)
3) Self- Attested UAN card (In case UAN not activated, kindly activate the same using below
Link: http://uanmembers.epfoservices.in/uan_reg_form.php
4) One original signed cheque leaf required from member (without signed cheque leaf will not be consider with application form or application it may be returned to member directly for the same require).
5) Copy of self-attested AADHAR required with withdrawal form 19 & 10 C.
TDS Applicable / Not Applicable
As per Central PF Commissioner’s Office letter dated 21-05-2015 vide which it has been informed that w.e.f. 01-06-2015 Income tax shall be deducted at source (TDS) by provident fund office on accumulated provident fund balance at the time of settlement of provident fund account in Form 19 (Form-19 is for claiming the Provident Fund dues)
TDS SHALL BE DEDUCTED IN FOLLOWING CASES AS PER SECTION 192A OF INCOME TAX ACT, 1961
· PF accumulation is Rs. 30,000 or more
· Provident Fund membership including service of former employer is less than 5 Years.
NOTE: Section 192A of the Income Tax Act, 1961 is not applicable to Provident Fund Trust, exempted under Section 17 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 and Recognized under Part A of Fourth Schedule to the Income Tax Act, 1952. TDS on provident fund settlement will be deducted in case of provident fund trust as per the existing procedures.
TDS SHALL NOT BE DEDUCTED IN FOLLOWING CASES
· Service Period including service of former employer is 5 years or more
· PF Payment is less than Rs. 30,000 but membership is less than 5 years
· PF Payment is Rs. 30,000 or more, membership is less than 5 years but Member’s submit following Form in DUPLICATE along with PAN.
o Form 15G (For Individual having no taxable Income) – Form 15G will not be accepted if PF accumulation is more than Rs. 2,50,000/-
o Form 15H(for Senior citizen (60 years & above) – Form 15H will not be accepted if PF accumulation is more than Rs. 3,00,000/-
· Termination of Service due to ill health of member, discontinuation/contraction of employer’s business, completion of project or other cause beyond the control of the member
NOTE: Member who have rendered continuous service of 5 years or more, including service with former employer, shall not be required to submit PAN and Form 15G/15H along with Form No. 19
RATE OF TDS
· If Permanent Account Number (PAN) is submittedalong with Form-19 @ 10%
· If PAN is not submitted along with Form-19 @ maximum marginal rate i.e. @ 34.608% (i.e. 30% Tax + 12% Surcharge + 2% Education Cess + 1% Higher Education Cess, Totaled = 34.608%)
NOTE:
· Provident Fund withdrawals before 5 years up-to 31-05-2015 are also taxable as per the provisions of the Income Tax Act, 1961.
· Some employees making pre-mature withdrawal 01-06-2015 onwards may be paying tax at higher slab rates (20% or 30%). Therefore, the shortfall in the actual tax liability vis-à-vis TDS is required to be paid by these employees either by requesting their new employer to deduct balance tax or through payment of advance tax / self-assessment tax.
FLOW-CHART ON TDS ON PROVIDENT FUND SETTLEMENT
Further to inform you that we shall be returning such applications where members details are not updated as per above instruction.