PF withdrawal conditions
What are the conditions in which withdrawal of PF amount is allowed? Can we withdraw it for buying new house? If, yes, how much % we can withdraw? more
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The house/land should be on your name or your spouse name or jointly in the name of you and your spouse (no other combination is allowed) You should have completed 5 yrs of service. If you are purchasing land, the maximum permissible amount is 24 times monthly wages. If you are purchasing or constructing a house/flat , then the permissible limit is 36 times monthly wages (including the acquisition of land also) more
Oct 23
Dear Pankaj, I'm sure there is a provision allowing withdrawal of PF from the employee contribution. When to withdraw the money depends on the individual. if she is going for home loan she can reduce rate of interest if she has lump sum amount as down payment. This is my kind view! Thanks & Best Regards, Naina Mohamed Sent from my iPhone > On 23-Oct-2015, at 10:37 am, Pankaj Kohli wrote: > > > Find this email inappropriate - Unsubscribe > LocalCircles is now available on iOS and Android. > > Pankaj Kohli > Pankaj Kohli commented on the Post > Pankaj wrote: "Although no one to give you a personal suggestion, I am of very strong view point that PF money should ONLY be taken out in lump sum when u r sure you will not work any longer. I will recommend to buy a cheaper house and get loan instead of buying a bigger house that may need bigger maintainence and you shed off you money you will need it most when u r not earning. As this is free advise, you can throw if you do not like it. Sorry for going out of the question, I hope you do not mind more..." > View/Comment Reply to this email to post a comment. > This email was sent to nainamohamed619@yahoo.in. If you don't want to receive emails from LocalCircles in future, please Unsubscribe. > LocalCircles, Inc., 1556 Halford Ave., Suite 290, Santa Clara, CA USA 95051. > 107 Urbtech Matrix Tower, Plot No. B-4, Sector - 132, Noida, India, 201304.Privacy Policy. more
Oct 23
Buying a new home is a good idea and I think that to the maximum of 90% of your saving can be partly withdrawn for the purpose and if it is a loan from your saving the repayment of the same will be little bit difficult and period of repayment is very less. So go for part withdraw so that you can save your rental payments. more
Oct 23
Although no one to give you a personal suggestion, I am of very strong view point that PF money should ONLY be taken out in lump sum when u r sure you will not work any longer. I will recommend to buy a cheaper house and get loan instead of buying a bigger house that may need bigger maintainence and you shed off you money you will need it most when u r not earning. As this is free advise, you can throw if you do not like it. Sorry for going out of the question, I hope you do not mind !! Yes, there are ways to take loan from PF and even withdraw them, my strong point is , one should remain away from these benefits. Till one retires, tis money should get fill care form you. more
Oct 23
