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Shikhasahai
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Hello Everyone, I wish to ask whether non-refundable withdrwal of Provident Fund can be done for payment of registration of the house??? if yes then how much???please reply its very urgent
thanks
shikha
29th June 2007 From India, New Delhi
Hi Shikha,
Non Refundable withdrwal can be made if you have completed 5 years contribution to the scheme and have min. Rs. 1000.00 balance in your PF Accunts.
amount will be avialable for withdrawal is equal to the 24 months Basic Wages (i.e. P.F. Wages) or equal to the cost of house which ever is less.
futher you can refer para 68 of the P.F. Act.
29th June 2007
Hi Shikha,

May this help you,

Rule 19.A.

[b]WITHDRAWAL FROM THE FUND FOR THE PURCHASE OF DWELLING HOUSE/FLAT OR FOR THE CONSTRUCTION OF DWELLING HOUSE INCLUDING THE ACQUISITION OF A SUITABLE SITE FOR THE PURPOSE:-[/b]1.

The Board of Trustees may on an application from a member in such form as may be prescribed and subject to the conditions prescribed in this rule sanction from the amount standing to the credit of the member in the Fund a withdrawal.

a) For purchasing a dwelling house/flat, including a flat in a building owned jointly with others (outright or on hire purchase basis) or for construction of a dwelling house including the acquisition of a suitable site for the purpose from the Central Government, the State Government, a co-operative society, an institution, a trust, a local body or Housing Finance Corporation (herein after referred to as the agency/agencies):

ORb)

For purchasing a dwelling site for the purpose of construction of a dwelling house or a ready built dwelling house/flat from any individual;

ORb)

bb) for purchasing dwelling house/flat on ownership basis from a promoter governed by the provisions of any Flats or Apartments Ownership Act or by any other analogous or similar law of the Central Government or the State Government as may be in force in any State or area for the time being and who intends to construct or constructs dwelling house or block of flats and the member is required to pay to the said promoter in advance for financing the said construction of the house/flat.

Provided that the member has entered into an agreement with the promoter as may be required under the Flats or Apartments Ownership Act or any other analogous or similar law of the Central Government or State Government which may be in force in any State or any area and the said agreement is registered under the Indian Registration Act, 1908.

(c) The construction of a dwelling house on a site owned by the member or the spouse of the member or jointly by the member and the spouse, or for completing/continuing the construction of a dwelling house already commenced by the member or the spouse, on such site or for purchase of a house/flat in the joint name of the member and the spouse under clause (a) and (b) above.

2) (a) For the purpose of purchase of a site for construction of house thereon, the amount of withdrawal shall not exceed the Memberís basic wages and dearness allowance for 24 months or the Memberís own share of contribution, together with the Employerís share of contributions, with interest thereon or the actual cost towards the acquisition of the dwelling site whichever is the least.

2 (b) The amount of withdrawal shall not exceed the memberís basic wages and dearness allowance for 36 months or the memberís own share of contributions, together with the employerís share of contribution with interest thereon in his account in the Fund or the actual cost towards the acquisition of the dwelling house (together with the cost of construction thereon) of the purchase of the dwelling house / flat or the construction of dwelling house, which ever is the least.

(3) (a) No withdrawal under this rule shall be granted unless:

(i) The member has completed five years membership of the fund;

(ii) The Memberís own share of contribution with interest thereon in the amount standing to his credit in the Fund is not less than One thousand rupees;

(iii) A declaration from the member that the dwelling site or dwelling house/flat or the house under construction is free from encumbrances and the same is under title of the member and/or the spouse is submitted;.

Provided that where a dwelling site or dwelling house / flat is mortgaged to any of the agencies referred in clause (a) of sub-rule (1) solely for having obtained Funds for the purchase of a dwelling house / flat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose, such dwelling site or dwelling house / flat as the case may be shall not deemed to be an encumbered property.

Provided further that a land acquired on a perpetual lease or an lease for a period of not less than 30 years for construction a dwelling house / float or house or flat built on such a leased land, shall also not be deemed to be an encumbered property.

Provided also that where the site of the dwelling house / flat is held in the name of any agencies, referred to in clause (a) of sub-rule (1) and allottee is precluded from transferring or otherwise disposing of the house / flat, without prior approval of such agencies, the mere fact that the allottee does not have absolute right of ownership of the house / flat and site is held in the name of the agencies, shall not be bar to the giving of withdrawal under clause (a) of sub-rule (1), if the other conditions mentioned in this rule are satisfied.

(b) No withdrawal shall be granted for purchasing a share in a joint property, or construction a house on a site owned jointly except on a site owned jointly with the spouse.
30th June 2007 From India, New Delhi
Thanks a lot for your help
let me put my querry this way
i have made the payments for the purchase of a flat partially by loan and partially by savings but i need to withdraw money for registration of flat so i wish to know whether registration is part of purchasing the house as only then i can withdraw the money from my PF
thanks
Shikha
1st July 2007 From India, New Delhi
Yes you can withdraw money as non refundable advance if the property is not encumbered.

The actual cost towards the acquisition of the dwelling site or the purchase of dwelling house/flat shall include the charges payable towards registration of such site, house or flat.

Provided that where a dwelling site or dwelling house / flat is mortgaged to any of the agencies referred in clause (a) of sub-rule (1) solely for having obtained Funds for the purchase of a dwelling house / flat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose, such dwelling site or dwelling house / flat as the case may be shall not deemed to be an encumbered property.

Provided further that a land acquired on a perpetual lease or an lease for a period of not less than 30 years for construction a dwelling house / float or house or flat built on such a leased land, shall also not be deemed to be an encumbered property.

Provided also that where the site of the dwelling house / flat is held in the name of any agencies, referred to in clause (a) of sub-rule (1) and allottee is precluded from transferring or otherwise disposing of the house / flat, without prior approval of such agencies, the mere fact that the allottee does not have absolute right of ownership of the house / flat and site is held in the name of the agencies, shall not be bar to the giving of withdrawal under clause (a) of sub-rule (1), if the other conditions mentioned in this rule are satisfied.

(b) No withdrawal shall be granted for purchasing a share in a joint property, or construction a house on a site owned jointly except on a site owned jointly with the spouse.

a) For purchasing a dwelling house/flat, including a flat in a building owned jointly with others (outright or on hire purchase basis) or for construction of a dwelling house including the acquisition of a suitable site for the purpose from the Central Government, the State Government, a co-operative society, an institution, a trust, a local body or Housing Finance Corporation (herein after referred to as the agency/agencies):

OR

For purchasing a dwelling site for the purpose of construction of a dwelling house or a ready built dwelling house/flat from any individual;

Provided that the member has entered into an agreement with the promoter as may be required under the Flats or Apartments Ownership Act or any other analogous or similar law of the Central Government or State Government which may be in force in any State or any area and the said agreement is registered under the Indian Registration Act, 1908.
2nd July 2007 From India, New Delhi
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