I have 2 years of service in my current company and 5 years of service in the previous company. However, I have not transferred my PF amount from the previous account to the current account. Now, I want to withdraw some amount to buy a plot/house from the present organization's PF account. Can I withdraw EPF from the present organization's PF account? Kindly help me as I need to make financial planning before I proceed.
Thanks & Regards,
Ravi.N
From India, Nellore
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1Thanks & Regards,
Ravi.N
From India, Nellore
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If you have not transferred the PF account from your previous employer to the new employer and have opened a new PF account there, you can withdraw the entire amount from the PF account that was opened with the previous company. However, if the same account has been transferred, then you can only withdraw it partially.
From India, Lucknow
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From India, Lucknow
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If you have not transferred the old PF, you can either do it now and take an advance from the present PF or withdraw the whole of the previous PF. For taking an advance for the purchase or construction of a house, you need at least 5 years of membership in PF, and it is possible to do so once you have transferred the previous accumulations to the new one. By doing this, your pensionable service will also increase by 5 years.
Under normal circumstances, an employee who is already a member of PF is expected to transfer the old one when joining a new organization and is not expected to withdraw it. However, the transfer will take its time, and the time of the transfer's effect depends on the persons working in the PF Office. Therefore, if you need money immediately, you can go for withdrawal. By doing this, you will be losing your past service. Still, getting your claim settled also depends on how efficient the service is in the PF office.
Regards,
Madhu.T.K
From India, Kannur
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Under normal circumstances, an employee who is already a member of PF is expected to transfer the old one when joining a new organization and is not expected to withdraw it. However, the transfer will take its time, and the time of the transfer's effect depends on the persons working in the PF Office. Therefore, if you need money immediately, you can go for withdrawal. By doing this, you will be losing your past service. Still, getting your claim settled also depends on how efficient the service is in the PF office.
Regards,
Madhu.T.K
From India, Kannur
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Since you have only 2 years in your current company, you cannot withdraw any money for housing purposes. The only way is to transfer the funds from your previous company's account to your current account. Only then will you be able to withdraw for housing purposes. The eligibility for withdrawing for housing purposes is a minimum of 5 years of service.
From India, Mumbai
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From India, Mumbai
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Since you have not transferred your previous PF account, first transfer the account to your current account. This will give you the monetary benefit of PF accumulation. The transfer of accounts will take some time; however, thereafter, you can take a loan and refund the same in installments against the loan from your salary. In the long run, this will be beneficial without any loss.
Regards
From India, Bokaro
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Regards
From India, Bokaro
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I think you have received answers to your query as all members suggested. To sum up, you have two options:
1. Withdraw the old EPF.
2. Transfer the amount to the new account, then apply for a loan.
The second option is time-consuming and can be difficult as two years have already passed. Contact the local EPF office before choosing this option. You can also discuss this matter with your current HR.
Thank you,
Regards,
Manish Gupta
From India, Patiala
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1. Withdraw the old EPF.
2. Transfer the amount to the new account, then apply for a loan.
The second option is time-consuming and can be difficult as two years have already passed. Contact the local EPF office before choosing this option. You can also discuss this matter with your current HR.
Thank you,
Regards,
Manish Gupta
From India, Patiala
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Hi Ravi Can you provide your previous pf a/c no, and current pf a/c no. I think both are in Andhra Pradesh. Rgds Murthy
From India, Hyderabad
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From India, Hyderabad
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In our company one employee has taken his previous company pf amount now he joined us and worked around three years now he want pf advance can he please explain
From India, Dehradun
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From India, Dehradun
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If the total service, including his previous employment, is 5 years, then he can take a partial withdrawal for the construction or purchase of a house. Nowadays, the employer does not need to do any clerical activity; the employee himself can apply online and receive the amount if he is eligible for it. Ask him to log in to the member portal and apply.
From India, Kannur
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From India, Kannur
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I have 10 years of service in my current company. Now, I want to withdraw some amount to buy a plot/house from the present organization's PF A/C. Can I withdraw EPF from the present organization? Kindly help me with what documents to attach in the online PF form for purchasing a plot. I need to make financial planning before I proceed.
Thanks & Regards,
Jahid Hussain
From India, Indore
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Thanks & Regards,
Jahid Hussain
From India, Indore
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What is the significance of the current organization? If you have 5 years or more of service in total, you can go for an advance. No need to apply with proof, etc., provided you have linked your Aadhaar with UAN. You can log in to your (member) portal and apply online. Please ensure that you have the same phone number available in the PF portal linked to your Aadhaar because the verification will be done by Aadhaar OTP sent to your mobile number, which is linked to Aadhaar only.
From India, Kannur
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From India, Kannur
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Early PF withdrawal won’t be easy.pdf
Steps to transfer PF amount.jpg