Yes, you can withdraw partial PF. It is allowed under specific conditions. While the PF is primarily meant for post-retirement savings, the Employees' Provident Fund Organisation (EPFO) allows partial withdrawals for certain life events or urgent financial needs. To submit a claim for a partial withdrawal of funds from the EPF, one must use the EPF form 31.
What Circumstances Allows a Partial Withdrawal from Provident Fund?
You can withdraw up to 6 times your basic salary or the total employee pay (whichever is lower) in case of a medical emergency for yourself, spouse, children, or dependent parents.
For your own or your child's higher education or marriage, you can withdraw up to 50% of your contribution after completing at least 7 years of service. This withdrawal is available up to three times during your lifetime.
You can withdraw for the purpose of home loan repayment, or buying/building a house. The maximum withdrawal allowed is up to 90% of the accumulated PF balance if you’ve completed 1 year of service.
If you’re over 57 years of age and approaching retirement (within 1 year), you can partially withdraw PF up to 90%.
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Can PF be Withdrawn Partially?
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2024-10-18T07:42:10+00:00 2024-10-18T07:42:11+00:00Comment
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