Hellow Seniors.. I have a question that is any employee want to take lone, then can he take loan against his pf account. is there any procedure of taking loan from provident fund account.
From India, Panipat
Advances from PF is allowed on certain conditions relating to years of service and purpose of availing loan. Please follow the link.

From India, Kannur

The objective behind Provident Fund is providing Social Security to an employee.

E P F Organisation has provided various schemes for availing loan to subscribers from their contributions a small effort to share with you

Employees Provident Fund

Every establishment which is factory engaged in any industry specified in Schedule I and in which 20 or more persons are employed.

Any other establishment employing 20 or more persons whom Central Government may, by notification, specify in this behalf.

Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act.

Monthly Salary: Rs. 6500/-(Basic +DA)
(Contribution on above such limit is at the option of the employers)

Contribution to PF is 12% by both Employer and employee. But in case of a sick industry, the contribution is 10% only.

Employers share: 12% (10%) (8.33% will go to pension fund and 3.67/1.676 % will go to Employee contribution)

Employee Share: 12%./10% as above

Normal forms involved for Submission
Form 19 P F Settlement Form
Form 10C Pension Settlement Form
Form 19 & 10D Death Claims
Form 13 R PF Transfer Form
Form 31 Advances (Loans)
Form 5 Additions
Form 10 Deletions
Form 12A Monthly statement to be submitted by the employer
From 3A Yearly Individual Statement
Form 6A Yearly employee statement
Form 02 Nomination Form

Monthly remittance challan’s Account No:
Major Heads:
01: Members’ contribution (12%+ 3.67%)
10: Pension Fund (8.33%)
02: Admn. Charges (1.10%)
21: EDLI (0.5%)
22: EDLI Charges (0.01%)

along with monthly Challan to enclose
Form 05: Additions (New joinings)
Form 10: Deletions (Resigns, Retire etc.)
Due date for submission
Monthly challans On or before 15th every month.
Annual returns On or before 30th April, SUCCEEDING YEAR

Se. 14B Damages for delayed payment
Less than 2 months…. @ 17% per annum
Two months and above but less than upto four months ….@22% per annum
Four months and above but less than upto six months ….@ 27% per annum
Six months and above @ 37%

Loan Particulars
Marriage Loan: 50% of employee share
House /House site: 90% of both shares
Education: 50% members’ share
Natural calamities: Rs. 5000/-
Medical Loan: 4-6 times to Basic pay
Unemployment due to lock-out or temporary closure. Appx. Rs. 5000/-

Pension calculation formula
Monthly members pension = Pensionable salary X Pensionable Service / 70

Please suggest modifications, if any.

From India, Hyderabad
Dear Prahlad,
Please note the require documets for EPF widow and nominee pention:-
01. Form 10 D
02. Form 20
03. Certified copy of Date of Birth of Widow & nominee
04. Certified copy of Ratan Card or Marriage certificate
05. Copy of Form 2
06. Three Signature of Widow
07. Three Photograph of widow & nominee
08. SBI or PNB Bank account copy
09. Death Certificate
10. Post Mortem Report
12. Affidavit of Rs.10/- for Claim as nominee
13. In case of accident copy of FIR
14. Copy of Form 5/10
15. 2 Identification mark of nominee
16. Impression of Thumb and fingure
17. Last Salary certificate etc.
Hope this will help to you.

From India, Mumbai
HI, You can take the loan on your PF accountbut it must be upto 75% as per PF law. Regards Pooja
From India, Ghaziabad
Dear Friends,
I have submitted my Form 10 C for pension settelment one year before . But as of now i dint receive my Pension settelment . As required i have given my bank account number and a cancellation cheque . Kindly advice how to get my pension settelment .
Shiva Shankar

From India, Mumbai
Please contact the EPF Office immediately. You can also visit the website of EPFO and collect details of status of your application. Regards, Madhu.T.K
From India, Kannur

Dear Seniors I have completed 4 years of service with my present mployer... Is there any option to take loan from my PF... If so please let me know the procedure... Thanks in advance...
From India

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server