PF Withdraw When U Working In Same...

Hi Guys ,
I want to take out my PF money but i m working in same company........
Any one can tell me ........

Kapil,
You cannot withdraw your PF during employment, however, you may apply for a loan based on your PF.

Hi Kapil,
You can not withdraw your PF Amount while working, but you can some advance from your PF amount for the following reasons
Marriage / Education
Treatment
Purchase or construction of Dwelling house
Repayment of Housing Loan
Purchase of Plot
Addition/Alteration of House
Repair of House
Withdrawal Prior to Retirement
Hope i have clarified your doubt.
Regards
Rajasekar

I may add to Rajashekar that advance on fulfillment of conditions relating to length of service/ membership in PF is available. As such, for construction of house, a minimum service of five years is required. Similarly for marriage, membership in PF for at least seven years is mandatory. For medical treatment, a certification to the effect that ESI facilities are not available to the member; for loss of salary due to power cut impossed by the government a certificate to this effect; for damage caused to property in natural calamity a declaration by Village Officer etc are required.
Regards,
Madhu.T.K

Hi Madhu,
I need your suggestion on this.
we have given the PF cheque (Citi Bank Cheque) to my consultant on 12th march (Friday) and they have deposited on the same with SBI bank. Since its a other bank it would have taken two days for clearance so my cheque would have cleared on 16th March. In challan PF seal dated 17th March.
My question is
1. Will i get exemtion of income tax on this amount?
2. Was this late payment?
Kindly suggest me.
Regards
Rajasekar

Payment is cleared before 20th, ie on 17th. Therefore, it will not attract interest. But if it is remitted any day after 20th then interest from 15th of the month onwards will be recovered. In the same footing, IT exemption can also be claimed.
Regards,
Madhu.T.K

dear
it is not late payment at all and you should get exemption in income tax also.but you should have proof that u have deposited on 12 th march.
tkas
j s malik

hi kapil,
pf can only be withdrawn after resignation from the service, if you wish to withdrawn the same you may resign and applied the same , once withdrawn join the same organization within the gap of one or two months.
thanks & regards,
from,
sumit kumar saxena,
9899669071, 0120-4131277

The Family Pension Fund is not in existence now. The same has become Pension Fund in 1995. As far as employee is concerned, Provident Fund represents his contribution (12%) and a share of (3.67%) employer whereas Pension Fund is constituted by contribution (8.33%) by the employer alone.
Regards,
Madhu.T.K

It is good way of asking such queries on this forum. But I personally feel kindly go to your HR- Admin and ask them what is the policy? He will give you better idea. If he is not able to give you from PF he will definitely suggest you other way or regarding your company’s benefits.

Aparna Sethi