Industrial Relations And Labour Laws
Hr & Administration
Agm - Hr & Admin.
Raj Kumar Hansdah
Shrm, Od, Hrd, Pms
Assistant Engineer, Indian Telephone Industries,
Sso In Lenovo Smartphone
Look up the rules...mostly it requires to have worked for at least 5 years with the company.
It could be a loan or a partial withdrawal - again the rules would spell this out.
- buying a house or renovating may entitle you to a partial withdrawal.
- son's education, medical expenses etc may entitle you for a loan which you would have to repay with interest.
Usually 1% higher than the interest you earn.
Hope this helps.
20th September 2010 From India, Mumbai
21st September 2010 From India, New Delhi
It's once in life time from the PF Account number that you currently have the accumulations in.
Benefit of Non - Refundable advance from the amount standing to the credit of member in the fund can be sanctioned for the following purposee :
1- Purchase of House.
2- Repayment of a loan for Housing.
3- Purchase of a house/site/flat under the housing scheme notified by the Central Provident Fund Commissioner.
4- Unemployument due to lockout or temporary closure.
5- Unemployment due to illness.
6- Marriage of self or of Daughter, Son , Sister, or Brother.
7- Education of Son or Daughter.
8- exceptional calamity.
The supporting documents will have to be attached for claiming the Non - Refundable advances.
Hope the answer satisfies your requirement.
21st September 2010 From India, Mumbai
You can withdraw amounts from your PF account only for specific reason like
1. Repayment of housing loan.
2. Purchase of house.
3. Marriage of self, children, brother or sisters (only three times while in service)
You need to submit Form 31 through your employer and then forward the same to PF office. But subject to certain eligibility criteria (You need to be a PF member for certain period for each loan category) PF office will permit you to withdraw the amount.
One member has inadvertently suggested that you can withdraw the amount by mentioning in Form 10. This is a wrong procedure. Form 10 is submitted only when employees leave. Once again reopening a fresh account will be considered as an offence by employer. Please do not suggest such things in a common forum like this.
Trust the matter is clear.
21st September 2010 From India, Madras
Apart from the suggestions given herein - for withdrawal of fund - non-refundable; as per the provisions in the Act; I wish to draw your attention towards the huge monetary loss involved.
Presently the rate of interest is 9.5 %.
Today, no other savings instrument gives this kind of interest - guaranteed.
A better option is to apply for withdrawal of REFUNDABLE Loan from one's CPF. Here, the beneficiary is required to deposit back the loan amount alongwith applicable interests (about 12 p.a.), in easy installments.
Here the benefit is that the "principal amount" (without any reduction against the loan amount) continues to earn interest at the specified rate.
Many CPF Trusts encourage this type of withdrawal; so that the total corpus along with interest is available to the employee during times of acute need or on super-annuation/retirement.
23rd September 2010 From India, Delhi
Mr. Rajesh Mishra is right, you can take non-refundable advances form P.F. through Form No- 31, Upto 90% of your contribution you can withdraw in case of purchasing or constructing house and in other cases you can take upto 50% of your contribution. but this advances should be supported with documentation like in the case of purchasing house you have to submit it's paper etc.
27th September 2010 From India
Eg: if i join a XYZ company in Jan 2011 and as a employee contribution for PF they take Rs. 1000/- from my salary and also as employers contribution they show that, they are paying Rs. 1000/- against PF.
So, if i left the company in April 2011 will I be able to claim Rs. 8000/- for my 4 months service...? or is there any clause for it...?
13th January 2011 From India, Mumbai
1. 68(B) -Towards house consruction/purchace/ plot purchase etc. Minimum service required - 5 years. Amount admiissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lock out (due to other than strike). No minimum service. Amount admissible - 6 times of basic+DA or employee contribution, whichever is less.
3. 68(J) - Towards one month hospitalisation, major surgical operation, diseases like leprosy, TB, cancer, mental retardation etc. No minimum service, but for out of ESI coverage members. Amount admissible - 6 times of basic+DA or employee contribution, whichever is less.
4. 68(K) - a) Towards post metric education of children.
b) Towards own/brothers'/sister's/children's marriage. Maximum three times in service. Minimum service required - 7 years. Amount admissible - 50% of employee contribution.
5. 68(N) - Applicable for physically handicapped towards purchase of equipment to reduce handicapness.Amount admissible - 6 times of basic+DA or employee contribution or cost of the equipment, whichever is less.
6. 68(NN) - After attaining an age of 54 years and before one year from the date of superannuation, whichever is later. Amount admiissible - 90% of both employee & employer contribution.
13th January 2011 From India, Bangalore
Regarding pension : As you are contributed only for 4 months, you are not eligible for withdrawal benefit. Minimum 6 months contribution is required for this. But you can transfer the service to add up with future service.
13th January 2011 From India, Bangalore
Plz Guide Me , Due To Some Financial Problems , I Want To Withdraw My
Pf Amount, Wheather I Can Withdraw or not, Im Quiting This Company now, Just i want to withdraw the PF. So Plz guide me regarding this, Which all the form i need to have .
Thanks n Rgds
31st December 2014 From India, Bangalore
I received final settlement amount from EPFO in June 2017. However, some of PF deductions were paid by my company after June 2017 to EPFO and now they are appearing in my PF passbook as credit in my account.
As I am retired now, I want to withdraw the balance amount. Is there any online tool to apply for this withdrawal?
Note: on EPFO site, my account is still showing as if I am not retired and just contributions have stopped. So if I try to apply online for balance amount withdrawal, I get PF advance withdrwal form which is not correct. I have used UMANG mobile app as well as EPFO site and results are same.
23rd February 2018 From India, Mumbai
Yes, you can withdraw your provident fund money but only as Advance" and you must give a reason for the same. There are three main reason which you can give.
1- Medical Reason.
2-Construction/Renovation of House.
3- Marriage of Self/Daughter/Son.
for this purpose, You need to apply by filling FORM-31 and submit it to your Regional PF Dept.
Suppose, you have 100 Rs in your PF account then you may get only 65 to 70 rs as advance and This will be given from your EPF not from EPS.
23rd February 2018 From India, Delhi
30th March 2018 From India, Mumbai
20th January 2019 From India, Delhi