Home / Money / Personal-finance /  You can withdraw your PF without UAN at no extra cost

My mother has been in service since 1997. In 2009, the company considered her name in the provident fund (PF) list. She doesn’t have UAN. If she wants to withdraw PF, will there be any deduction from her PF due to unavailability of UAN?


It is recommended that she gets a UAN (Universal Account Number) for ease of transaction. As she is still in employment, she can apply for her UAN number as she does not need to withdraw her PF immediately. This will enable PF to be redeemed online and without any requirement of submission of physical documents.

In case she is not able to apply for her UAN, she can still withdraw her PF without UAN. She needs to fill the PF withdrawal form and submit the same to the regional Provident Fund office. However, this process will require the old procedure to be followed which requires identity attestation by a bank manager or a gazetted officer or magistrate. There are no charges or deductions just because there is no UAN; it is only that the processes gets more detailed including for withdrawals.

I am a physiotherapist working in UAE. I am investing 18,000 through SIPs since nine months in Kotak Standard Multicap ( 5,000); ABSL Advantage Fund ( 3,000); Reliance small cap ( 3,000); Mirae Asset Emerging Bluechip ( 3,000); and HDFC Hybrid Equity ( 4,000). When I chose the Kotak fund, it was under the large-cap category but now the category has changed to multi-cap. I already have one multi-cap fund in the form of ABSL Advantage. Is it advisable to keep two multi-caps in a portfolio or should I switch to a pure large-cap fund? My horizon is at least 20-25 years, and I want to accumulate 5 crore. Kindly review my portfolio and suggest.

—Nirav Joshi

You currently have five funds which are spread among one fund each in multi-cap, small-cap and hybrid fund along with two funds in large and mid-cap. The funds are good long-term performers. With the recent re-categorisation of schemes you are ending up with two large-and-mid-cap funds. And out of the two funds in the said category, you can continue with one scheme. If we have to pick one fund out of the two, then we can go with Mirae Asset Emerging Blue Chip Fund.

Also, instead of having a large-cap fund where you will already have exposure via other categories, i.e., large-and-mid-cap and multi-cap schemes, you can consider having exposure in the mid-cap category. The rationale of picking this category is long-term investment since your investment horizon is 20-25 years. At the same time, this category along with the small-cap category do carry higher degree of risk and hence it is recommended that you should be doing your risk profile. The funds which have done well in this category are L&T Mid Cap, Franklin Prima Fund and HDFC Mid cap Opportunities Fund.

If 18, 000 is invested per month for 25 years, the principal accumulation becomes 54 lakh. At an earning rate of 14%, you will be able to accumulate 4.9 crore. And this is when the savings amount is not increased over the entire investment horizon.

Surya Bhatia is managing partner of Asset Managers. Queries and views at mintmoney@livemint.com

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