Dear Reshma, instead of resigning, you can suggest the employee take an advance from their PF department. The employee may withdraw the amount in advance for various reasons, such as:
- Purchase of a house
- Purchase of land
- Housing loans
- Construction or alteration of a house
- Repayment of housing loans
- Lockout or closure of a factory as defined under the Industrial Dispute Act
- Illness of the EPF member or any of his/her family
- Marriage of self or son/daughter/brother/sister
- Post Matriculation education of children
- Natural calamity
- Cut in electricity in an establishment
- Purchasing equipment for the physically handicapped
- One year before retirement
- Investment in Varishtha Pension Bima Yojana
Limits of EPF Partial Withdrawal:
Employees can make withdrawals based on the below-listed circumstances. Listed below is the withdrawal purpose, the minimum service requirement to be eligible to make the withdrawal, the PF withdrawal limit, and the relations for whom the employee can make the withdrawal.