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Loan Against PF - Software Engineer

vicky.rohilya Started The Discussion:

Hi all,

I am working as Contract Engineer in Govt. of India Enterprise Compnay since 4 Years. Every month 12% PF has been deducted from my salary and same amount has been contributed by employer. Now I want to take PF Loan from my PF Amount.

What is the procedure and rules for taking PF Loan.

Regards

(VIKAS JAIN)


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htdesai - Contributing Member
Hi,

Before five years you are not eligible to get a loan from PF. Also you get loan for specific purpose, mainly for self marriage or construction or repair of house etc. The loan amount you will ge is some % of your contribution. Companies contribution is not paid as loan.

For details ou can ask in your company's HR dept or nearest PF office.

Regards,

Harshad

rupa.kundu - 
i am working in an mnc...am i eligible to take loan fr repairing my flat?my job is permanent.how much loan i am eligible?
2ndly one of my aunt is government employee fr last 10 yrs, is she eligible fr loan against pf?pl. say its urgent..thank u..

tch.joshi - 
YOU WILL BE GETTING 80% OF LOAN ON YOUR BALANCE, i.e ON CLOSING BALANCE OF UR A/C SLIP -UPTO FEB-09. 80% LOAN IS ONLY SANCTIONED IF YOU APPLIES FOR RENOVATION, CONSTRUCTION & PURCHASE OF FLAT.

jayesh1 - Contributing Member
Dear Vikas Please find attechment for your ready reference


Attached FilesProvided by community member jayesh1. Join us to learn and grow with your peers.
File Type: zip PF BENIFITS.zip (8.1 KB, 1935 views)
pvp - 
I am working as Software Engineer in pvt limited Compnay since 10 Years. Every month 12% PF has been deducted from my salary and same amount has been contributed by employer. Now I want to take PF Loan from my PF Amount. is it possible? if it is possible where i will apply.

kishorejv - 
Yes you can get your PF Amount but there are some clauses. Please check the following link to know more about those.. (EPFO) at http://www.epfindia.nic.in/members_benefit.htm#top

vicnagda - Contributing Member
My PF Consultant says that there is a court ruling putting a Stay on the clause of Advance for purpose of Alteration of Home. Can someone please confirm the above ..

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