EPF Withdrawal for Purchasing a site or Flat
PF Amount can be withdrawn from the PF account for the Purchase of house/flat/construction of house including acquisition of site from an Agency (or) Purchase of site for construction of dwelling house/purchase of house/flat from an Individual (or) Purchase of dwelling house/flat on ownership from Promoters. There are some criteria which needs to be satisfied by the member before they can apply for a PF withdrawal
|Criteria||Minimum 5 years in EPF|
|No of installments||1 or more installments|
|Documents required with Form31||Declaration Form from the Member|
- If you are purchasing a site for constructing House : 24 month’s basic wages and DA or Total cost whichever is lower
- If you are constructing a house: 36 month’s basic wages and DA or Total cost whichever is lower
Note: If the Total Employer and Employee share with interest is lower than all these then only that amount would be sanctioned and not the above mentioned amounts.