Deepa Dixon
Hi all,
My husband has a purchase agreement with a power for consideration agent towards purchase of a residential land. We have decided to withdraw from the EPF for financing the purchase. But we have a lot of clarifications regarding the filling up of the new declaration.
1. Name and address of the owner of plot from whom agreement executed - We do not know whether we have to provide the address of the owner, or the details of the person holding the power for consideration as the document entitles him to sell the property to us. It is a registered valid document. Please help
2. Can we withdraw from the PF for purchase of a dwelling site or is it mandatory to construct a house immediately? If so what is the time limit for constructing a house on that site? Kindly advise.
3. Please note that this is just a residential property in a small town and in no way like the plots sold in cities. The area is 25 cents (approx. 4.5 grounds)
Thanks and regards,
Deepa Dixon

From India, Chennai
ravi5554
427

Hi,
Construction or purchase of house or flat/site or plot for self or spouse or joint ownership.
1.You should have completed at least five years of service
2.The maximum amount you can avail of is 36 times your wages.
3.To buy a site or plot, the amount is 24 times your salary.
4.Can be avail of it just once during the entire service.

From India, Mumbai
Deepa Dixon
Hi Aditya,
Thank you for your response. The information you provided is there in the EPF website as well as in all related articles. But my query is very specific. Can you please look into my queries and see if you can help resolve these issues? I really need information regarding this.
Deepa

From India, Chennai
Vidyadhar Bhat
73

Hi Deepa,
1st thing You should have registered document of purchase of Land. The name and address of the land owner and P.A will be in the agreement.
If you have alredy purchased land i.e. transaction is completed, you cannot withdraw amount from PF.
You can provide the documents for construction of the house. i.e. Estimate, Permission from Local Authority and approved Plan etc.
It is not binding to build the house on the land immediately.
Thanks,
Vidyadhar Bhat

From India, Pune
ravi5554
427

Dear Deepa,
For your Concern it may be city or some where first check the eligibility then only you can apply for the PF withdrawal.
For The construction/ purchase of dwelling unit (house/ flat)
Eligibility
• Should complete 5 Years of service
• Only once in service
• property should be in the name of self or spouse or jointly
• should not be a joint property owned by other than the spouse
If you will fit in above criteria then you may receive 36 times of Wages.(wages means as per section 2(b) )
Proof/ documents required
Declaration in the Proforma obtained along with application signed by Member
Apply in Form-31 through Employer

From India, Mumbai
Deepa Dixon
Thank you Vidhyadhar Bhat. I was searching the internet for the information you provided for almost a week. I'm not planning to construct a house immediately and the EPF website had no information about this. Thanks a lot. You've been very helpful.
We have entered into an agreement to purchase, but haven't actually purchased the land. So I'll go ahead and apply for the PF withdrawal.
Deepa

From India, Chennai
chetan advaith
Hi Mr.Ravi Info was very useful.. But can you kindly clarrify ..
say I get 36 times the wages as an eligibility of PF withdrawal.. for Ex: Say i get 36*50000= 18Lakhs..
But in the initial stages of my career my basic was very less.. ..right now I completed 9 yrs of total corporate service. For ex: if my total PF balance is 10Lakhs.. Then how can I be eligible for 18Lakhs ..
How does the exact calculations go ?
kindly clarrify ..

From India, Bangalore
ashish.0805
Can somebody tell me this:
Advance PF for Purchase of Site/plot and for purchase of flat would be considered separate or same?
I mean can I apply for advance against purchase of plot now, and for purchase of flat later?

From India, Gurgaon
Vidyadhar Bhat
73

Dear Ashish,
Purchase of plot and House are two different reasons and can take PF withdrawal bothe cases. For Polt 24 times PF salary and for Plot 36 times PF salary subject to your Banlace.
First you can take for purchase of plot and later your can take for construction purpose.
Thanks,
Bhat

From India, Pune
kadma123
My question is about Pension Fund & VPF.
What are term and conditions for withdraw of pension fund before 9 years and after 9 years?
After the service of more than 10 years how much pension a person will get? or can withdraw all amount?
How much amount of VPF a person can save from salary. How much amt. we can withdraw after 5 years in which terms and condition?

From India, Gurgaon
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