EPF Withdrawal for repayment of Home Loan

Q & A Forum › Category: Home Loans & Credit › EPF Withdrawal for repayment of Home Loan

Sumit asked 8 years ago

Hi Srikanth, I want to withdraw money from my EPF account to repay my home loan amount. I have my aadhar number and bank account details available on UAN portal and my UAN has been activated. Can I use the composite claim form (AADHAR) for the withdrawal? I am currently employed in my present company since July 2011. Prior to that I was working in a company for 3 years (July 2005 - February 2008) having an EPF account. Between Mar 2008 to June 2011, I was working as a consultant and got my salary as a monthly retainer Please let me know any other conditions for the withdrawal Regards, Sumit

2 Answers

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Sreekanth Staff answered 8 years ago

Dear Sumit, You can use CCF - Aadhaar form (select Form no- 31) directly to the EPFO (or) You can also submit part withdrawal claim online through Unified Member Portal. May I know if you have transferred Funds from your previous EPF account to current EPF account? If you are prepaying the debt (loan), you should have completed at least 10 years of service. To avail this provision, you need not submit any documents to your employer, along with From 31 (form for EPF partial withdrawal). You may kindly go through below articles for more details;

Sumit replied 7 years ago

Hi Sreekanth,

Thanks for answering the question. I did not transfer funds from the PPF account of my previous company but had withdrawn the amount before joining the current company, since I worked as a consultant for 3 years before joining my present company. I am currently employed in my present company since July 2011.

Am I eligible for this withdrawal then?

Thanks,
Sumit

Sreekanth Staff replied 7 years ago

Dear Sumit,
If you have withdrawn (full) PF then that particular period will not be considered under total service period.
So, kindly check if you have total 10 years service period (without including this 3 year period).

Sumit replied 7 years ago

Dear Sreekanth,

Thanks for the clarification. Your blog is very informative. Keep up the good work.

Regards,
Sumit

Sreekanth Staff replied 7 years ago

Thank you for your appreciation! Keep visiting ReLakhs..

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Sreekanth Staff answered 8 years ago

The withdrawal amount that is admissible for this reason can be least of the below; i) 36 times of your monthly salary (or) ii) Total contribution (or) iii) total outstanding home loan amount