How to withdraw the PF amount if I am Continue the job last 7 years & what should be the PF amount. Can I withdraw the PF amount of both Employee & Employer share.Please help me Regarding this.Thanks Mirza.
From India, Bhubaneswar
abbasiti
516

Assistant Engineer, Indian Telephone Industries, Palakkad
Dear Mirza,
As you are still in service, withdrawal of PF amount is not possible, except within the final year of superannuation and that too after attaining an age of 54 years.
Instead you may avail loan on genuine grounds.
Abbas.P.S

From India, Bangalore
abbasiti
516

Assistant Engineer, Indian Telephone Industries, Palakkad
Dear Mirza,

PF loan is applicable under the following conditions; provided a minimum employee contribution (with interest) of Rs. 1000 is lying with PF.

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.

Abbas.P.S, ITI Ltd, PALAKKAD - 678 623

Ph. +91 9447 467 667

From India, Bangalore
This discussion thread is old and is closed for new comments. If you want to continue this discussion or have a follow up question, please post a new thread. Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2021 Cite.Co™