I shall quote the various provisions to avail non-refundable loans from PF, provided a minimum employee contribution (with interest) of Rs. 1000 is lying with PF.
1. 68(B) - Towards house construction/purchase/plot purchase, etc. Minimum service required - 5 years. Amount admissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lockout (due to other than strike). No minimum service. Amount admissible - 6 times of basic+DA or employee contribution, whichever is less.
3. 68(J) - Towards one-month hospitalization, major surgical operation, diseases like leprosy, TB, cancer, mental retardation, etc. No minimum service, but for out of ESI coverage members. Amount admissible - 6 times of basic+DA or employee contribution, whichever is less.
4. 68(K) - a) Towards post-metric education of children.
b) Towards own/brothers'/sister's/children's marriage. Maximum three times in service. Minimum service required - 7 years. Amount admissible - 50% of employee contribution.
5. 68(N) - Applicable for physically handicapped towards the purchase of equipment to reduce handicapness. Amount admissible - 6 times of basic+DA or employee contribution or cost of the equipment, whichever is less.
6. 68(NN) - After attaining an age of 54 years and before one year from the date of superannuation, whichever is later. Amount admissible - 90% of both employee & employer contribution.
Abbas.P.S