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kumara994
Hi, Is it possible to take non-refundable loan from EPF for buying plot? I have completed 5 years in current job. First 3 years PF contribution was in EPF office Mumbai while last 2 years contribution is in EPF office Chennai since due to some internal adjustments, employer transferred few cases belonging to a subsidiary company to Chennai EPF office. I have not transferred PF balance from Mumbai account to Chennai account. For me to get a non-refundable loan from EPF for buying plot, shall I apply for same in Mumbai since it is convenient for me? Since my account is in two offices, will I be able to get the PF loan as 5 years service needed for getting non-refundable PF loan. I am with same subsidiary company since joining for the last 5 years.
regards
Kumar

From India, Mumbai
sethupathy-s
65

Dear Kumar,
Though you have worked in the same subsidiary company your contributions were deposited in two different account Nos.
First send Form 13 for transfer of the funds. After the transfer apply for advance through Form 31. Because minimum five years of services is required for an advance.
Refer the attached file for advance withdrawals.
S.Sethupathy,
Excellent HR Services.

From India, Selam
Attached Files (Download Requires Membership)
File Type: doc Advances from EPF.doc (44.5 KB, 1822 views)

kumara994
thanks very much Sethupathy. In the document you have shared it is mentioned that "A declaration from the member that, dwelling site or dwelling house/flat or the house under construction is free from encumbrances and the same is under the title of the member or the spouse". Does this mean that I can apply for this 'advance' only after buying the plot since till I make the purchase, title will not be in my name. Also is there any way wherein I can give declaration to Mumbai / Chennai PF office stating details of both PF accounts to show that I have more than 5 years of service so that the claim can be entertained(as the balance transfer from one PF office to another may take lot of time.)
thanks in advance,
regards
Kumar

From India, Mumbai
sethupathy-s
65

Dear Kumar,
You can make a Purchase agreement for period of not less than 3 months duration with the land owner with a token advance and attach the copy of this along with the application. As this para is for both purchase and construction these type of conditions are laid down. However they go by the approval of employer in the Form 31.
I don't think before proving that you have contributed for five and more years ( In your case the merger) you can apply for an advance. Nevertheless approach the EO in local PF office with all details and explain him your case and seek some remedial action.
All the best.
S.Sethupathy,
Erode.

From India, Selam
kumara994
Hi Sethupathy,
thanks. Once challenge I have would be regarding the Purchase agreement with land owner. 8 frinds are buying plot together from owner (and then dividing it among ourselves) and only one of us (my friend) is making an agreement with the owner. Final sale registration would be done by owner for all 8 folks. So in this case can I apply for PF withdrawal with a copy of the sale deed in my name after the sale completion as I wont have a purchase agreement earlier.
regards
Kumar

From India, Mumbai
sethupathy-s
65

Dear Kumar,
You can attach the sale deed and ask for an advance to construct a dwelling house. Normally the authorities sanction advance for the expenses to be occurred.
S.Sethupathy,
Excellent Hr Services,
Erode.

From India, Selam
bahubali.jain
Hi,
I am planning to jointly buy a plot along with my brother, and I am looking to withdraw from PF for the same.But PF rules specify that the land should be in the name of PF account holder name or Account Holder + Spouse....
Please advice what to do ...
Thanks.

From India, Bangalore
kumara994
thanks Sethupathy,
PF consultant in my Organization advised me to withdraw PF amount in my Mumbai account. as per him i just need to submit withdrawal form. as per him account in Chennai can not be withdrawn. my worry is if i withdraw the Mumbai account, then i will be losing the chance to include it in my 'total service' and it may affect my 'pension' in future. is this assumption correct? what are the pros and cons of such withdrawal from pension perspective? if i withdraw the Mumbai account amount, will they give the pension fund contribution also (rs 511/- per monh i suppose ie., 8.33% of salary). what is the best way to get full 5 yrs money? pls help
regards
Kumar

From India, Mumbai
dnyaneshkute
Hi Sir I want to withdrawal Pf for Flat purchase but now i am working what is the percentage of Pf amount i can withdrawal
From India, Pune
ashokfts
1

dear Sirs, I have been working in an organization for more than 7 years and last year I applied for loan against my pf amount for buying a Plot. I attached all the necesssary documents along with the agreement copy of the land which was notarized also. But, after a long gap it was rejected by the Maharashtra (bandhra) PF office stating that I didnt register the land in the registration office. Unless otherwise, If I pay the amount fully, how the seller will come forward to register the same in my name? Secondly, when I approached the chennai (Tamil Nadu) PF office Public Relations Officer, they explained that, for buying a PLOT, I need not register the land and send the copy to the PF office. If I plan to purchase a FLAT, then the registration is necessary. But, when I explain this to the Mumbai PF office, they are not ready to accept and they require some notification or government order which clearly mention that the registration is not required for applying loan against PF.

So, can any one send the notification or government order which suites my case? Please help?

From India, Chennai
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