I had applied for PF advance on November 8th 2018 , reason while applying via the online PF portal was construction of House. The PF advance was Rs 7 lakhs and my total PF amount is Rs 13 Lakhs including employee and employer share.
On 12th December I received only Rs 70,000 as my PF advance settlement amount hence I am not able to understand what happened to the balance RS 6,30,000 . Will I receive the balance amount or is Rs 70,000 the only amount that I will receive.
In my PF passbook the Rs 70,000 shows as part of my employee share hence will the balance Rs 6,30,000 come as part of the employer share ?
3 Answers
Hi,
May I know your total service period? Did you recently consolidated your EPF accounts? Was the claim reason selected - 'Construction of new house' or 'Renovation of house'?
Below is the eligibility criteria :
Purchase of House/Flat directly from a Builder : In this case, the Membership service criteria to withdraw is still considered as 5 years only. – they will refer to Section 68B.
For purchase of site directly from builder :
24 month’s basic wages and DA. For purchase of house/flat/construction, the least of below:
36 month’s basic wages and DA
OR
Total of employee and employer share with interest
OR
Total cost.
Whichever is least will be allowed as withdrawal. Related article : EPF Partial Withdrawals / Advances : Details, Rules & Guidelines
24 month’s basic wages and DA. For purchase of house/flat/construction, the least of below:
36 month’s basic wages and DA
OR
Total of employee and employer share with interest
OR
Total cost.
Whichever is least will be allowed as withdrawal. Related article : EPF Partial Withdrawals / Advances : Details, Rules & Guidelines
With the current PF account , my total service period is 7.5 years and yes my PF accounts got consolidated recently. Also the reason for the PF advance was selected as “Construction of House”.
Lastly my total accumulation of PF is Rs 13 lakhs in the last 7.5 years so even if put in a request for PF advance stating reason as “Construction of House”, I cannot get an amount of Rs 70,000 only. For 36 month’s basic wages and DA , the amount should be a lot higher.
Also I have received only my Employee share as PF advance , will there be a Employer share amount sent to me as well since I had put in the PF advance request for Rs 7,00,000 or is there some other issue ?
With the current PF account , my total service period is 7.5 years and yes my PF accounts got consolidated recently. Also the reason for the PF advance was selected as "Construction of House".
Lastly my total accumulation of PF is Rs 13 lakhs in the last 7.5 years so even if put in a request for PF advance stating reason as "Construction of House", I cannot get an amount of Rs 70,000 only. For 36 month’s basic wages and DA , the amount should be a lot higher.
Also I have received only my Employee share as PF advance , will there be a Employer share amount sent to me as well since I had put in the PF advance request for Rs 7,00,000 or is there some other issue ?
Also I have received only my Employee share as PF advance , will there be a Employer share amount sent to me as well since I had put in the PF advance request for Rs 7,00,000 or is there some other issue ?
Hi,
May I know your service period for the current EPF account and on previous EPF account(s)??
Meanwhile, suggest you to kindly submit a grievance request to the EPFO online via this link and inquire about the 'reason for lower than expected payment'..
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