I just wanted to know the PF Rules for availing Loans under various categoreis and also I need loan forms. Kindly help. Ashok
From India, Madras
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1From India, Madras
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With a large number of people withdrawing their PF money when they switch jobs, the Employees' Provident Fund Organization (EPFO) is working on tightening the norms to ensure that employees have sufficient cash and a pension option to take care of their post-retirement needs.
At present, rules permit partial withdrawals for financing insurance premiums, housing, illness, marriage, higher education, natural calamities, purchase of aids by the handicapped, needs arising out of closure of a factory or retrenchment, and, of all things, power cuts! In some cases, employees can withdraw up to 90% of their PF savings.
Good luck..!!!
From India, Ahmadabad
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At present, rules permit partial withdrawals for financing insurance premiums, housing, illness, marriage, higher education, natural calamities, purchase of aids by the handicapped, needs arising out of closure of a factory or retrenchment, and, of all things, power cuts! In some cases, employees can withdraw up to 90% of their PF savings.
Good luck..!!!
From India, Ahmadabad
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Trouble Ahead_ I-T Dept Tells EPFO to Tax Premature PF Withdrawals.pdf