Seniors,
Need your guidance. I am in the process of finalizing a flat purchase in Bangalore.
I would like to withdraw funds in my EPF in Bommanahalli, Bangalore. Couple of things that I would like to have your guidance on it are listed below.
1. Does the agreement with the builder needs to be registered ? Or the agreement on the e-stamp paper will do ?
2. Having more than 12 years of EPF account should give me some funds for purchasing flat. Question would be how long will it take for the amount to be withdrawn from EPF ?
3. Will it go to the builder's account directly as a/c payee cheque or will it be transferred to my account ?
4. Purchase of flat will be a joint purchase, including me and my spouse. Spouse being a housewife, will it impact the amount of money withdrawn from "my"EPF" account ?
5. Any experience in handling EPF withdrawl from Bommanahalli office in bangalore will be highly appreciated.
Understand we need to fill out a set of forms in here for withdrawl. Need your kind guidance on the same.
Appreciate your kind attention and help
From India, Bangalore
Need your guidance. I am in the process of finalizing a flat purchase in Bangalore.
I would like to withdraw funds in my EPF in Bommanahalli, Bangalore. Couple of things that I would like to have your guidance on it are listed below.
1. Does the agreement with the builder needs to be registered ? Or the agreement on the e-stamp paper will do ?
2. Having more than 12 years of EPF account should give me some funds for purchasing flat. Question would be how long will it take for the amount to be withdrawn from EPF ?
3. Will it go to the builder's account directly as a/c payee cheque or will it be transferred to my account ?
4. Purchase of flat will be a joint purchase, including me and my spouse. Spouse being a housewife, will it impact the amount of money withdrawn from "my"EPF" account ?
5. Any experience in handling EPF withdrawl from Bommanahalli office in bangalore will be highly appreciated.
Understand we need to fill out a set of forms in here for withdrawl. Need your kind guidance on the same.
Appreciate your kind attention and help
From India, Bangalore
Hi
please find answers to you queries
1. you need to have an agreement to sale with builder, and the consideration to sale must be clearly mentioned, payments installments to be incorporated. I do not think it need to be registered.
2. Normallly, it will within 30days from the day of acceptance of your request at pf office , if all documents from your side is submitted.
3. it will b remitted in your bank account never it will b paid to builder
4. No
5. Please do not take help from any one it may get delayed. Pl take assistance from PF authorities or the persons dealing with PF matters in your company or consultants. this practice may lead to unnecessary delays
From India, Hyderabad
54please find answers to you queries
1. you need to have an agreement to sale with builder, and the consideration to sale must be clearly mentioned, payments installments to be incorporated. I do not think it need to be registered.
2. Normallly, it will within 30days from the day of acceptance of your request at pf office , if all documents from your side is submitted.
3. it will b remitted in your bank account never it will b paid to builder
4. No
5. Please do not take help from any one it may get delayed. Pl take assistance from PF authorities or the persons dealing with PF matters in your company or consultants. this practice may lead to unnecessary delays
From India, Hyderabad
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SECURITY AGREEMENT.doc