Shall we need to pay interest for the PF amount we withdraw from our account for buying a home? In that case shall we need to repay the amount later and so in how many years? Or it is just a withdrawal wherein we withdrew and use and no need to pay any interest or repay the amount.
From India, Nellore
1From India, Nellore
Hi, PF is your money and you don’t need to pay any interest in amount your wish to withdraw, Ukmitra
From Saudi Arabia, Riyadh
From Saudi Arabia, Riyadh
Dear Member,
If you withdraw advance from your EPF A/c, then you need not to refund it. It's your money and you can withdraw 50% of your share.
But, for this you must be an member of EPF for 7 years or more and there are certain condition to take advance from your EPF A/c, out of which one is "For purchasing Home' also.
So, just go ahead if you are a member of EPF for 7 years or more.
Hope this will help you. Cheers.
From India, Delhi
If you withdraw advance from your EPF A/c, then you need not to refund it. It's your money and you can withdraw 50% of your share.
But, for this you must be an member of EPF for 7 years or more and there are certain condition to take advance from your EPF A/c, out of which one is "For purchasing Home' also.
So, just go ahead if you are a member of EPF for 7 years or more.
Hope this will help you. Cheers.
From India, Delhi
Dear member,
For taking loan for the purchase of House from EPF dept, you need not to pay any interest simply you can with draw of your contribution by way of applying Form 31 which is available in the epf site or you can approach any nearby EPF office, and there are some rules and procedures to be fallowed. If you are in Hyderabad you can contact me so that will guide you how to approach
Thanks and regards
Lakshminarayana
9866917232
From India, Hyderabad
For taking loan for the purchase of House from EPF dept, you need not to pay any interest simply you can with draw of your contribution by way of applying Form 31 which is available in the epf site or you can approach any nearby EPF office, and there are some rules and procedures to be fallowed. If you are in Hyderabad you can contact me so that will guide you how to approach
Thanks and regards
Lakshminarayana
9866917232
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
TAXABILITY ON EPF WITHDRAWAL.docx