PF Withdrawal for Home Purchase: Interest and Repayment
Shall we need to pay interest on the PF amount we withdraw from our account for buying a home? In that case, do we need to repay the amount later, and if so, in how many years? Or is it just a withdrawal where we withdraw and use the funds, with no need to pay any interest or repay the amount?
From India, Nellore
Acknowledge(0)
Amend(0)
1Shall we need to pay interest on the PF amount we withdraw from our account for buying a home? In that case, do we need to repay the amount later, and if so, in how many years? Or is it just a withdrawal where we withdraw and use the funds, with no need to pay any interest or repay the amount?
From India, Nellore
Acknowledge(0)Amend(0)
Hi, PF is your money and you don’t need to pay any interest in amount your wish to withdraw, Ukmitra
From Saudi Arabia, Riyadh
Acknowledge(0)Amend(0)
From Saudi Arabia, Riyadh
Acknowledge(0)Amend(0)
If you withdraw an advance from your EPF account, then you need not refund it. It's your money, and you can withdraw 50% of your share. However, for this, you must be a member of EPF for 7 years or more, and there are certain conditions to take an advance from your EPF account, one of which is "For purchasing Home" as well.
So, go ahead if you have been a member of EPF for 7 years or more. Hope this information helps you. Cheers.
Regards.
From India, Delhi
Acknowledge(0)Amend(0)
So, go ahead if you have been a member of EPF for 7 years or more. Hope this information helps you. Cheers.
Regards.
From India, Delhi
Acknowledge(0)Amend(0)
To take a loan for the purchase of a house from the EPF department, you do not need to pay any interest. You can simply withdraw your contribution by applying using Form 31, which is available on the EPF website or by visiting any nearby EPF office. There are specific rules and procedures that need to be followed. If you are in Hyderabad, you can contact me, and I will guide you on how to proceed.
Thanks and regards,
Lakshminarayana
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
Acknowledge(0)Amend(0)
Thanks and regards,
Lakshminarayana
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
EPF INTEREST HIKE 9.5 %.pdf
TAXABILITY ON EPF WITHDRAWAL.docx
EPF Interest Calculator.xls