PF Withdrawal after 60 years
Greetings Readers, I have a query with you knowledgeable readers. I have a Pf account from which i would like to withdraw the entire amount and at the same time continue contributing the Pf amount as usual so that it builds up again, Sir is it possible? Example for your understanding. I am working in a educational institute and am contributing Rs. x towards my PF. Now i am 60 yrs and I have Rs. y in my PF. I would like to withdraw this Rs. y amount towards housing loan. I would like to continue contributing Rs x as i have not retired and the management has asked me to continue till I am able to work. Sir, Can I do this? Your advice is very much sought after by me. Your advise will be a turning point to make my decision. Thank you. more
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If you are not employed and retired after 58 years you should withdraw entire corpus from PF . If you want to continue investing for 80c benefits , you can use PPF account for the same . more
Apr 26
It is better take the withdrawal for home loan and continue your membership. It is of no use of closure of current and start a new one etc., and furthermore it may complicate in future. more
Apr 26
You can withdraw whole amount only if you are unemployed for more than 2 months and the PF office record show that you are not working in any organisation. more
Apr 26
It will be better if you check with Pf Office.I think when you withdraw total amount ,your account definitely closed.But if you withdraw partial amount your account is alive. Secondly you said you are at age 60 years,and your organisation told you to continue to work as far as possible. These should be referred to of office. more
Apr 26
As long as you are employed and your employer is contributing towards your PF, the account can be continued. As far as withdrawal of amount from PF account, I do not think that you will be allowed to withdraw full amount. Only partial withdrawal may be allowed and that too for certain purposes. There is a list of purpose, for which you can withdraw money from PF account. more
Apr 26
You are allowed to withdraw up to 90% of PF balance for purchase of a residential property. more
Apr 26
