LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » Personal Finance News

You can withdraw 90% EPF to buy home, pay EMI from account

The withdrawal facility from the PF account will be available to only those PF members who fulfil the conditions prescribed.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
You can withdraw 90% EPF to buy home, pay EMI from account
The facility will be available only once to every member during his or her lifetime. Photo: Pixabay
Written By: PTI
Updated: Mon, Apr 24, 2017
08:40 pm
New Delhi, PTI
RELATED NEWS
Big decision by EPFO! Provident Fund regulator launches this facility for EPS subscribers on Umang App Big decision by EPFO! Provident Fund regulator launches this facility for EPS subscribers on Umang App
EPF Passbook: EPFO subscribers can check PF balance without UAN number; here is how EPF Passbook: EPFO subscribers can check PF balance without UAN number; here is how
EPFO UMANG App was big hit during COVID-19 pandemic; here is why EPFO UMANG App was big hit during COVID-19 pandemic; here is why
EPF Withdrawal: Know this fact for a hassle free transaction to get your money EPF Withdrawal: Know this fact for a hassle free transaction to get your money
EPFO: How to submit EPF Claim online on death of beneficiary EPFO: How to submit EPF Claim online on death of beneficiary

Over four crore subscribers of the retirement fund body EPFO can now make down payment and pay EMIs from their EPF accounts to buy homes.

The subscribers of the the Employees Provident Fund Organisation (EPFO) will be able to withdraw up to 90 per cent of their accumulations in their PF account for purchase of homes.

The EPFO has amended the scheme by inserting a new paragraph -- 68 BD -- to the Employees' Provident Funds (EPF) Scheme, 1952, to enable a subscriber to make down payment to buy homes and pay EMIs through the EPF account, a senior official said.

ALSO READ: EPFO Passbook: How to check your balance

The official said, "Since the labour ministry has issued a notification for the purpose, the scheme stands amended."

Under the new provision, an EPF subscriber being a member of a co-operative or housing society with at least 10 members can withdraw up to 90 per cent from the fund for purchase of a dwelling house or flat or construction of a dwelling house and acquisition of site.

It also provides that monthly instalments for repayments of any outstanding payment or interest may also be paid from the amount to the government, housing agency, primary lending agency and banks concerned.

ALSO READ: At 8.65%, investing in EPF a better option than fixed deposits

However, the withdrawal facility from the PF account will be available to only those PF members who fulfil the conditions prescribed. One, the member applying under this window should have contributed to the fund for at least three years.

The facility will be available only once to every member during his or her lifetime. The rule applies to all those who together with their subscriber spouse have at least Rs 20,000 in their accounts. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Employees Provident Fund OrganisationEPFOEmployee Provident FundEPFBuying homeBandaru DattatreyaEPF investmentEPF interestLabour MinistryEMI for homeProperty buyingEPF Accounts
RELATED NEWS
Big decision by EPFO! Provident Fund regulator launches this facility for EPS subscribers on Umang App Big decision by EPFO! Provident Fund regulator launches this facility for EPS subscribers on Umang App
EPF Passbook: EPFO subscribers can check PF balance without UAN number; here is how EPF Passbook: EPFO subscribers can check PF balance without UAN number; here is how
EPFO UMANG App was big hit during COVID-19 pandemic; here is why EPFO UMANG App was big hit during COVID-19 pandemic; here is why
EPF Withdrawal: Know this fact for a hassle free transaction to get your money EPF Withdrawal: Know this fact for a hassle free transaction to get your money
EPFO: How to submit EPF Claim online on death of beneficiary EPFO: How to submit EPF Claim online on death of beneficiary

LATEST NEWS

Mirzapur on Amazon Prime Video: Supreme Court issues notice; shows it as city of goons and adulteresses, says PIL

SSC GD Result 2018 Constable (General Duty): Today? Important message for Staff Selection Commission jobs aspirants

Stove Kraft Limited IPO: Rs 412 crore offer! Price band per share, open date, subscription deadline and other important details for investors

Banks sanction additional Rs 15,571 cr to MSMEs under ECLGS 2.0

When Tim Cook ''gifted'' Donald Trump a $6K Mac Pro

Gold Price Today 21 January 2021 – Gold gains by Rs 200 in morning trade, Silver price stronger by Rs 740; Expert recommends BUY!

Using Airtel Payments Bank? FREE! Good news for you

Big blow for China! India may impose huge duty hike on these Chinese imports; Anil Singhvi explains booster shot for GNFC

Maruti Suzuki share price: Jefferies sees it at Rs 12000 - Rs 16590 - whopping 50-110% upside

Market Guru in talk with RJ Salil Acharya of Radio City: People can buy ITC; It can emerge as 'Stock of the Year'

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved