I want to partially withdraw my PF amount without leaving the current job. Is that possible? If yes, then can someone please help me with the process?
From United%20Kingdom, London
From United%20Kingdom, London
Dear Niraj,
You may take PF loan under the following conditions; provided a minimum employee contribution (with interest) of Rs. 1000 is lying with PF.
1. 68(B) -Towards house consruction/purchace/ plot purchase etc. Minimum service required - 5 years. Amount admiissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lock out (due to 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 hospitalisation, major surgical operation, diseases like leprosy, TB, cancer, mental retardation etc. No minimum service, but for out of ESI coverage members. 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'/sister's/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 towards purchase of equipment to reduce handicapness.Amount admissible - 6 times of basic+DA or employee contribution or cost of the equipment, whichever is less.
6. 68(NN) - After attaining an age of 54 years and before one year from the date of superannuation, whichever is later. Amount admiissible - 90% of both employee & employer contribution.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
Ph. +91 9447 467 667
From India, Bangalore
517You may take PF loan under the following conditions; provided a minimum employee contribution (with interest) of Rs. 1000 is lying with PF.
1. 68(B) -Towards house consruction/purchace/ plot purchase etc. Minimum service required - 5 years. Amount admiissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lock out (due to 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 hospitalisation, major surgical operation, diseases like leprosy, TB, cancer, mental retardation etc. No minimum service, but for out of ESI coverage members. 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'/sister's/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 towards purchase of equipment to reduce handicapness.Amount admissible - 6 times of basic+DA or employee contribution or cost of the equipment, whichever is less.
6. 68(NN) - After attaining an age of 54 years and before one year from the date of superannuation, whichever is later. Amount admiissible - 90% of both employee & employer contribution.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
Ph. +91 9447 467 667
From India, Bangalore
Dear Mr.Niraj,
As such there is no any provisions to get the loan from Provident Fund. unless
on specific ground But you can take non refundable advance for the purpose of various as mentioned in this thread by Mr.Yadav. Other than this No provisions.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
As such there is no any provisions to get the loan from Provident Fund. unless
on specific ground But you can take non refundable advance for the purpose of various as mentioned in this thread by Mr.Yadav. Other than this No provisions.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
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PF Partial Withdrawal - Instructions_Fo rm31.PDF
Guide Lines for PF Withdrawal.doc