One can withdraw from EPF prematurely in some specific situations. Following are the situation in which you can withdraw from EPF subject to conditions mentioned against them:
- Medical treatment for Self or family (spouse, children, dependent parents). Conditions:
- For major surgical operations or for TB, leprosy, paralysis, cancer, mental or heart ailments.
- The maximum amount that can be withdrawn is 6 times your salary.
- You must show proof of hospitalization for one month or more with leave certificate for that period from your employer.
- Repay a housing loan for a house in the name of self, spouse or owned jointly. Conditions:
- You should have completed at least 10 years of service.
- You are eligible to withdraw an amount that is up to 36 times your wages.
- Marriage or education of self, children or siblings. Conditions:
- You should have completed a minimum of seven years of service.
- The maximum amount that can be withdrawn is 50% of your contribution.
- You can avail it three times in your working life.
- You will have to submit the wedding invite or a certified copy of the fee payable.
- Alterations/repairs to an existing home for house in the name of self, spouse or jointly. Conditions:
- You need a minimum service of 5 years (10 years for repairs) after the house was built/bought.
- You can draw up to 12 times the wages, only once.
- Construction or purchase of house or flat/site or plot for self or spouse or joint ownership. Conditions:
- You should have completed at least five years of service.
- The maximum amount you can avail of is 36 times your wages.
- To buy a site or plot, the amount is 24 times your salary.
- You can avail it just once during the entire service.
Must Read : Some facts about EPF
: Know your EPF Balance
: EPF Facts 6 – you will not get 100% on withdrawal
: EPF Facts 7 – Misc.
: EPFO reduces Administrative Charges
