Monday, September 5, 2016

When can I withdraw my PF amount during employment| Provident fund IndiaFAQ

To withdraw PF money during service

  1. Education or marriage of the employee / his siblings / his children. Can be withdrawn 3 times for this reason in his entire service. Only who completed 7 years of employment is eligible for this option
  2. Medical treatment of the employee / his life partner / his parents /  his children. There is no age restriction and no limited number of times for this option.
  3. To purchase a plot under the name of the employee or his life partner. This option is available for those who completed 5 years of employment and can use this option only once during his lifetime service.
  4. To construct a new house / plot / flat under the name of employee or his life partner. The employee should have completed 10 years of employement to avail this offer.
  5. To renovate the house under his or his life partners name. Should have complete 5 years of service. 
  6. Pre-retirement: If the employee is minimum 54 years old, then he can withdraw 90% of the pf amount . This can be used only once in his carrier.
when can i withdraw my pf amount

Apart from all these categories, an employee can withdraw the PF amount after resignation of current job. But the employee should be 2 months without job to legally withdraw the PF amount.