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
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From United%20Kingdom, London
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Dear Niraj,
You may take a 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 construction/purchase/plot purchase, etc. Minimum service required - 5 years. Amount admissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lockout (due to other than a strike). No minimum service. Amount admissible - 6 times the 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 required but for out-of-ESI coverage members. Amount admissible - 6 times the 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 the employee contribution.
5. 68(N) - Applicable for physically handicapped towards the purchase of equipment to reduce handicapness. Amount admissible - 6 times the basic+DA or employee contribution or the 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 & employer contribution.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
Ph. +91 9447 467 667
From India, Bangalore
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530You may take a 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 construction/purchase/plot purchase, etc. Minimum service required - 5 years. Amount admissible - 100% of both employee & employer contribution.
2. 68(H) - Towards 2 months or more lockout (due to other than a strike). No minimum service. Amount admissible - 6 times the 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 required but for out-of-ESI coverage members. Amount admissible - 6 times the 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 the employee contribution.
5. 68(N) - Applicable for physically handicapped towards the purchase of equipment to reduce handicapness. Amount admissible - 6 times the basic+DA or employee contribution or the 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 & employer contribution.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
Ph. +91 9447 467 667
From India, Bangalore
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Dear Mr. Niraj,
As such, there are no provisions to get a loan from the Provident Fund unless on specific grounds. However, you can take a non-refundable advance for various purposes as mentioned in this thread by Mr. Yadav. Other than this, there are no provisions.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
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As such, there are no provisions to get a loan from the Provident Fund unless on specific grounds. However, you can take a non-refundable advance for various purposes as mentioned in this thread by Mr. Yadav. Other than this, there are 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