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Dear All,

Please help..............!

It's regarding the amount withdrawal from PF accumulation for the purpose of education of daughter of one of the employees working in our company for more than 7 years at managerial cadre.

I am getting a bit confused on this. I believe, since PF amount does belong to the employee, he can take out the amount subject to the guidelines/limitation prescribed by EPFO. In respect to the above mentioned scenario, I think 50% of the total accumulated amount can be obtained. pl correct if it's wrong.

But the term "education loan facility" is also used when it comes to name the benefits that can be availed under PF act. My question is, can an employee withdraw the amount in this condition or will he have to apply for loan based on PF accumulation? In case, loan will be the option, what will be the rate of interest for it's payment.

Also, do let me know of the formalities that to be done for availing the amount. So far, I came to know that we need to provide cancelled cheque with IFSC code and enclose estimation fee particulars for year wise from college/university.

I checked EPFO site wherein I came across form-31, which is meant for availing amount for house construction. pl provide me relevant link/form so that I could help the employee properly.

Will appreciate your timely help.

Dear Moderators and Seniors Pl answer this query. I did not get any reply on this till now ;-(
Dear Vishal,
You can definitely take the loan for education of your children.
- You should have contributed 7 years continuously to your PF account.
- Maximum you can avail 50% of your contribution (only) which includes interest that you have gained over 7 years.
- The same form 31 that you have mentioned can be used to place the request. Along with that you may have to submit the education expense details.
Hope this may help you.

Dear Bhandhavi,

Still am not content. Pl try to answer the following queries:

(i) instead of taking loan based on PF accumulation, can an employee take out the 50% of accumulated amount?

(ii) in case, this is not possible and loan is the only option, what will be the rate of interest for its payment?

(iii) enclosed Form-31 will suffice for this purpose? in case, it's not ok, pl provide me relevant form or link.

(iii) Having known the answer for above mentioned queries, how will I have to proceed to process the forms for claim disbursement?

(iv) "I declare that advance is required to meet the expenses in connection with my marriage/marriage

of my Son/Daughter/Brother/Sister.

Sh. / Kumari............................................ ............................Aged.................. .............................


to be Celebrated on................................................ ................

(dated) Address

I declare that the above particulars are true to the best of my knowledge and I will abide by the

conditions governing the grant of advance under the Scheme. Certificates/documents in support of

my application is/are furnished enclosed."

This content is available in enclosed file, meant for meeting expenses for matrimonial purpose. in case, same form is to be used for above mentioned situation, what should I do at this point?

Please......... help on this also.

Thanking you in anticipation...................

Attached Files
Membership is required for download. Create An Account First
File Type: pdf FORM 31_for Education Loan_V.1.pdf (102.8 KB, 108 views)

Dear Bhandavi,
You cannot imagine how happy I am now. You really have made my day today :-)
Shared link seems very relevant for this purpose. I will go through the same now. In case, i come across any doubt concerning the clause of form-31, will share the same for getting your valuable response on same.
Thanking you so much indeed.

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