Abbasiti
Assistant Engineer, Indian Telephone Industries,

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Dear All,
I wish to apply a non refundable loan from PF for purchasing a flat. I worked with three companies one company maintains account with EPF and all other are trusts. I joined the first company on 2007. I used to transfer my funds from one company to other when i moves. I didn't closed my PF account. There will be break in service of 7 to 8 days if I move from one firm to another. Am I eligible to take home loan. seeking your valiable advise
Regards
Ajit

Dear Ajit,

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

Thank you for your valuable reply. My account is having about 1.33 lakhs. I don’t remember the date of entry. How can i find out the same. Thanks Ajit V
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