How to Withdraw PF Amount While Continuing Employment
I have been working for the last 7 years and would like to know how to withdraw the PF amount. What should be the PF amount? Can I withdraw the PF amount of both the employee and employer share? Please help me regarding this.
Thanks,
Mirza.
From India, Bhubaneswar
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I have been working for the last 7 years and would like to know how to withdraw the PF amount. What should be the PF amount? Can I withdraw the PF amount of both the employee and employer share? Please help me regarding this.
Thanks,
Mirza.
From India, Bhubaneswar
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As you are still in service, withdrawal of the PF amount is not possible, except within the final year of superannuation and that too after attaining the age of 54 years. Instead, you may avail a loan on genuine grounds.
Regards,
Abbas. P.S
From India, Bangalore
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530Regards,
Abbas. P.S
From India, Bangalore
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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]
From India, Bangalore
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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]
From India, Bangalore
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Withdrawal of PF for housing loan 5.6.2012.pdf
Guide Lines for PF Withdrawal.doc