Navigating EPF Withdrawal for Flat Purchase in Bangalore: Seeking Guidance on Key Steps

Seniors,

I need your guidance. I am in the process of finalizing a flat purchase in Bangalore. I would like to withdraw funds from my EPF in Bommanahalli, Bangalore. A couple of things that I would like to have your guidance on are listed below:

1. Does the agreement with the builder need to be registered, or will the agreement on the e-stamp paper suffice?

2. Having more than 12 years of an EPF account should give me some funds for purchasing a flat. The question would be, how long will it take for the amount to be withdrawn from EPF?

3. Will it go to the builder's account directly as an account payee cheque, or will it be transferred to my account?

4. The purchase of the flat will be a joint purchase, including me and my spouse. My spouse being a housewife, will it impact the amount of money withdrawn from "my" EPF account?

5. Any experience in handling EPF withdrawal from the Bommanahalli office in Bangalore will be highly appreciated.

I understand we need to fill out a set of forms here for withdrawal. I need your kind guidance on the same.

I appreciate your kind attention and help.

Please find answers to your queries:

Agreement of Sale

1. You need to have an agreement of sale with the builder, and the consideration for the sale must be clearly mentioned, including payment installments. I do not think it needs to be registered.

EPF Withdrawal Timeline

2. Normally, it will be within 30 days from the day of acceptance of your request at the PF office if all documents from your side are submitted.

Payment to Bank Account

3. It will be remitted to your bank account; it will never be paid to the builder.

4. No.

Seeking Assistance

5. Please do not seek help from anyone outside as it may cause delays. Seek assistance from PF authorities or individuals dealing with PF matters in your company or consultants. This practice may lead to unnecessary delays.

Regards