PF Loan Conditions and Eligibility
PF loan is applicable under the following conditions, 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 and employer contribution.
2. **68(H):** Towards 2 months or more lockout (due to reasons 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 members out of ESI coverage. 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'/sisters'/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 individuals towards the purchase of equipment to reduce handicap. Amount admissible - 6 times of basic + DA or employee contribution or cost of the equipment, whichever is less.
6. **68(NN):** After attaining the age of 54 years and before one year from the date of superannuation, whichever is later. Amount admissible - 90% of both employee and employer contribution.
Regards,
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
Ph. [Phone Number Removed For Privacy Reasons]