INSUBCONTINENT EXCLUSIVE:
The EPFO (Employees' Provident Fund Organisation) recently allowed its members to withdraw upto 75 percent of their EPF (Employees'
Provident Fund) account balance in case of unemployment of members for over one month
However, there are several other reasons for which one can exercise the option of partial/full withdrawal of the PF account balance
As per the current rules, 100 percent withdrawal of EPF account balance is permissible when the member is unemployed for over two months
not be rendered jobless.The EPFO members are allowed to seek advances/withdrawal from their EPF account for the purposes that include
purchase or construction of house, repayment of loan, for marriage of self or daughter or /son or brother as per the provisions of Employee
Provident Fund (EPF) Scheme 1952
In all these instances, the employees must have worked for a specified period (5 to 7 years) to become entitled to claim the withdrawal.In
certain cases, however, there is no prerequisite for the employees to have worked for a specified period to be able to claim the PF
These exceptions include lockout or closure of factory, illness of member, natural calamity, cut in electricity in establishment and
purchasing equipment by physically handicapped person, as per the information given on EPFO's official website: epfindia.gov.in.EPF
entire contribution, whichever is least for the treatment of his/her own illness or treatment of family members
To withdraw money for the treatment, employees are not mandated to have served for a minimum number of months/ years.: How To Transfer EPF
Money, Check Balance, Passbook Online2
For Marriage: For the purpose of marriage of self/ daughter/son/ brother/sister an EPFO member is allowed to withdraw up to 50 per cent of
their share with interest
son/daughter: The EPFO allows a withdrawal of 50 per cent of an employee's share with interest for post-matriculation studies of their
He/she must be an EPFO member for at least seven years (84 months) to apply for this advance
A certificate regarding course of study and estimated expenditure from the head of institution is meant to be submitted to avail this
advance.: PF Withdrawal After You Quit Job: Important Income Tax Ruling You Need To Know4
For purchase of house or flat or construction, employees are allowed to withdraw 36 months (three years) of basic wages and DA, or total of
employee and employer share with interest, or total cost of the house/construction, whichever is least.One must remember that there is a
minimum threshold of being an EPFO member for five years (60 months) to be able to seek a withdrawal for construction of house
The employee is entitled to withdraw only once for this purpose during entire his/her employment
Barring a declaration from the employee, no other document is necessary to process this advance request
Likewise, an employee can take loan for improvement/repair of an existing house owned by him or his spouse or joint-owned property.5
shares of employee and employer with interest or total outstanding principal and interest, whichever is least for repayment of loans in
One has to be an EPFO member for a minimum of 10 years to be able to avail this advance
An employee requires a certificate indicating the outstanding principal and interest to be able to apply for this partial withdrawal.
