Hi,
I would be completing my 5 years in an MNC company on 10th Nov 2012 and I would be in need of funds during the year 2012 as I have taken a flat and would need to give payments for the demands that would be coming up in 2012.For that I want to use my PF next year when I would be completing 5 years .Now to use PF I have two options :
1) Take Loan on PF amount - Can I take loan for my flat on Nov 2012 which has been booked 1 year back . Please note that Bank is also financing the partial amount of my Home.
2) Withdraw PF Amount after leaving the company - I have read the rules that you can withdraw but you should be unemployed fro 2 months which I will not going to be . So, does it happen in practice as I have heard that may people withdraw money on changing jobs . I have asked my present company and they say they fill the withdraw forms and submit to PF office whenever employee wants to leave the company.
Please help me what option should I take as I want to use my PF amount at its fullest.
I would be completing my 5 years in an MNC company on 10th Nov 2012 and I would be in need of funds during the year 2012 as I have taken a flat and would need to give payments for the demands that would be coming up in 2012.For that I want to use my PF next year when I would be completing 5 years .Now to use PF I have two options :
1) Take Loan on PF amount - Can I take loan for my flat on Nov 2012 which has been booked 1 year back . Please note that Bank is also financing the partial amount of my Home.
2) Withdraw PF Amount after leaving the company - I have read the rules that you can withdraw but you should be unemployed fro 2 months which I will not going to be . So, does it happen in practice as I have heard that may people withdraw money on changing jobs . I have asked my present company and they say they fill the withdraw forms and submit to PF office whenever employee wants to leave the company.
Please help me what option should I take as I want to use my PF amount at its fullest.