How Much Can I Borrow from My PF Account and What’s the Process Like?

Sir, I am a PF account holder from 2005 to the present. From 2005 to 2007, I transferred the old PF amount to the new PF account. In my PF account, I have 2 lacs. As per EPF Law, Para 68-B, I am eligible for 24 months' wages (Basic & DA) or the member's own share of contribution plus the company's share of contribution with interest thereon. My 24 months of Basic + DA comes to around 7 lacs.

Question:

1. Could you please tell me how much advance I can get from PF?
2. How do I get the loan?
3. Also, guide me about the repayment of the loan.
4. What is the timeline for getting the loan?

Firstly, I want to tell you that to take a loan from PF, you must complete 7 years of continuous service; only then are you eligible. To get a loan, fill out Form-31. There is no provision for loan repayment in PF. What is the purpose of taking an advance from PF?