EPF Advance Withdrawal To Buy A Plot/hoouse - CiteHR
Madhu.T.K
Industrial Relations And Labour Laws
Couvery
Consultant
Guptakmanish29
Hr Professional
T.V.Balasubramanian
Handle Finance
Itsrsb4u
Programmer Analyst
+3 Others

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I have 2Yrs service in current company and 5 Yrs service in the prev. company. But I have not transferred my PF amount from prev account to current account. Now I want to withdraw some amount to buy a plot/house from the present organization PF A/C.
Can I withdraw EPF from present organization PF A/C?
Kindly help me, I have to make financial planning before I start.
Thanks & Regards
Ravi.N

Well, if you have not transferred the PF account from your previous employer to new employer and opened a new PF account over there then you can withdraw the whole amount of PF that was opened in prev company but if the same account has been transferred then you can withdraw it partially.
If you have not transferred the old PF you can either do it now and take advance from the present PF or withdraw the whole of previous PF. For taking advance for purchase or construction of house, you need at least 5 years membership in PF and it is possible to get 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 circumstance an employee who is already a member of PF is expected to transfer the old one while he joins a new organisation and is not expected to withdraw it. However, the transfer will take its own time and the time of effect of transfer depends upon the persons sitting 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 upon how good is the climate in the PF office.
Madhu.T.K

Dear Sir,
With the PF accumulation seen on-line, I was told that the withdrawal process takes only 15 days provided 2 months has passed since leaving your previous job and the previous employer has executed all the relevant documents and send the same to PF office.
Anyway all the best for the best usage of your own resources.
Best wishes,
Bala

Since you have only 2 years in present co you cannot withdraw any money for housing purpose. The only way is to transfer the previous co a/c to present a/c. Then only you can withdraw for housing purpose . Eligibility for housing purpose is of service 5 years.
Since you have not transferred your previous PF A/C, first you transfer the account to your current A/C. This will give you the monetary benefit of PF accumulation. Transfer of A/C 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 loss.
i think u had answer to ur query as all members suggestted
to sum up u have two options
1. Withdraw old epf
2. Trf the amount to new account then apply for loan
2nd option is time consuming and can be difficult also as already two yrs had beenassed, contact local epfoffice beforfor option , u can also discuss this mattr with current hr.
Thnks
manish gupta

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
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

If the total service including his previous employment is 5 years, then he can take partial withdrawal for construction or purchase of house. Now a days the employer need not do any clerical activity but the employee himself can apply online and get the amount, if he is eligible to it. Ask him to log in to member portal and apply.

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