Industrial Relations And Labour Laws
Working As Assistant General Manager (personnel)
I have learnt that when we take out some amount from our PF contribution then the amount varies for different purposes and it requires a certain years of employment as PF member.In my knowledge the condition for withdrwal of PF amount for construction of house is that the member must have completed 5 years of service as PF member,can avail this benefit just once during entire service and can withdraw 36 times of member's wages.I would like to know that am i correct or wrong??
Seniors please contribute....
Please find the attachment.
As rightly suggested by Mr. Madhu, you can opt for withdrawal on the grounds of house construction. EC or agreement copy are not required to avail this withdrawal. You need to give a declaration under Form 31A along with form 31 and other documents as narrated by Mr. Madhu to get the benefit. I am enclosing some of the documents for your ready reckon.
As per your conversation i want asked one question:
I have completed my service in my present company more then 3 years.
Is that i am eligible to take advance from PF for my personal business.?
Please suggest me with your valuable feedback.