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Thread: Loan/Advance from my PF account?

  1. #1
    PolicyWala Member
    Join Date
    May 2009
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    India
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    24

    Default Loan/Advance from my PF account?

    I have a PF Account since 2005. I have changed job in year 2009 and transferred the complete amount from old PF account to new PF account. Now I am looking for loan from my PF account. I have read the EPF law and as per EPF Law (Para 68-B), I am eligible for 24 months wages (Basic & DA) OR Member’s own share of contribution + Company’s share of contribution with interest thereon.
    Queries -
    1. How to get the loan?
    2. Could you please tell me how much amount can I get Advance from PF?

    3. Also, guide my about repayment of loan?
    4. What is timeline for getting the loan?



  2. #2
    PolicyWala Expert
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    Default

    For getting advance fill the Form-31. There is no provision of repayment of loan in PF, as it is advance.

  3. #3
    Moderator
    Join Date
    Feb 2009
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    Noida
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    Default

    Quote Originally Posted by Sumant View Post
    I have a PF Account since 2005. I have changed job in year 2009 and transferred the complete amount from old PF account to new PF account. Now I am looking for loan from my PF account. I have read the EPF law and as per EPF Law (Para 68-B), I am eligible for 24 months wages (Basic & DA) OR Member’s own share of contribution + Company’s share of contribution with interest thereon.
    Queries -
    1. How to get the loan?
    No loan, Only advance from your fund.
    2. Could you please tell me how much amount can I get Advance from PF?
    As mentioned by you -
    24 months wages (Basic & DA) or Member’s own share of contribution + Company’s share of contribution with interest.
    3. Also, guide my about repayment of loan?
    No repayment as it is not loan.
    4. What is timeline for getting the loan?
    No idea.
    Amit
    Pls follow Rules/Guidelines @ PolicyWala
    “The happiest people are not those who live on their own terms…but are those who change their terms for the ones whom they love”


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