PF withdrawal for buying home

Hello,
I have about 9 lac in my PF account. where employer contribution is 4 lac and employee contribution is 5 lac. I have to pay 10 lac for the flat (under construction) that i have bought last year around June 2016. I was told that i can withdraw the whole amount of 9 lac. I am wondering that with new PF rules, whether i will be able to withdraw 9 lac or not.
Some clarity from members will help.

Regards,
Sourish more  

View all 11 comments Below 11 comments
Right now there is no clear picture. However,you may directly contact with P.F.Office of your area for proper information and guidance. After getting information from them please inform the members for their future reference. more  
You may need to discuss with the finance department in your organization to know about the criteria for withdrawing the PF for purchase of apartment. There are some guidelines such as number of years ( 5, 7 and 10 ) for various types of investments such as marriage, buying a flat, repayment of loan etc.. and also percentage of amount you can withdraw. It may differ from company to company, so it would be good to clarify your finance department on what is the guidelines followed in your company. more  
U Can avail Advance against PF accumulation for buing nuw home. Use Form 31 you will get you contribution refund. more  
New rule is applicable for future contributions and not to old one. You can apply for part withdrawal for home loan with out any hassles. more  
You can withdraw the amount taxfree if you your PF account is more than 5 years . The new provisions in the current budget is only for contributions made from APril 1 2016. more  
Post a Comment

Related Posts

    • Withdrawl of PF

      I lost my job after May 2020. I want to withdraw my PF but I am unable to do same because my company has been liquidated n the IRP appointed by NCLT has not authorized anyone as authorize signatory...

      By Ravi Rai
      /
    • EPFO may fund startups

      The EPFO should note that it is a custodian of the money which people who are saving for the retirement. You are not supposed to behave like a financier to fund startups.

      By Satvik Singh
      /
    • Scheme certificate cancellation from RPFO Delhi- central

      I had submitted Scheme certificate at RPFO cuddapah at the time of submisstion of Form 10D for EPF monthly pension in the year 2017. RPFO cuddapah sent letter to RPFO Delhi-North asking cancellat...

      By K R S S Murty
      /
    • Your EPF claim.

      Can you share your EPF Account number? (State/Organisation code number / your account no).

      By MANDALIKA Surya Narayana Sastry
      /
    • EPF not claimed from 1996

      Sir, I was working in a pvt ltd company in 1996 with whom I have my EPF dues. How can I get my EPF now and to whom to contact to know the procedure? Thanks & Regards

      By Debabrata Nayak
      /
    • EPFO has some fraudsters need audit

      Officers tend to form nexus with crooks to fraudulently withdraw PF money from dormant or active accounts. This case in Mumbai is concerning and I have a feeling we have hundreds of such cases acro...

      By Satvik Singh
      /
    • Online withdrawal rejection

      I had UAN linked to Aadhaar/PAN/bank account but still online request got rejected showing same account linked to other UAN etc (my old UAN before new EPFO portal came up). God knows what can ...

      By Shibdas Mallick
      /
    • Change in pension withdrawal rules coming

      Soon, the EPFO will allow withdrawal of pension contribution only after 2 years of exiting from your previous job. Right now, pension sum can be withdrawn after 2 months of leaving a job.

      By Satvik Singh
      /
    • EPF policies are disincentivising honest tax payer

      PF tax rules change from April. Employee contributions to PF above ₹ 2.5 lakh p.a. will be taxed.. So anyone who earns more than ₹20.83 lakhs p.a. will attract interest on EPF contribut...

      By Satvik Singh
      /
    • How to access my forgotten FF Account

      I don't know my PF account number. I know my PAN and don't have any info about my OF account. How do I get my money from that account?

      By Ashish Patel
      /
    • Proposal to tax PF contribution over a certain limit is retrograde

      The 2021-22 Budget is notable for not imposing fresh taxes, but for one clause lurking in its fineprint. This is the plan to withdraw the tax exemption on the interest income earned by employees&rs...

      By Satvik Singh
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)