Reasons for withdrawal | Withdrawal Limit | No. of years of service required |
---|---|---|
Medical purposes | Six times the monthly basic salary or the total employee’s share plus interest, whichever is lower | No criteria |
Marriage | Up to 50% of employee’s share of contribution to EPF | 7 years |
Education | Up to 50% of employee’s share of contribution to EPF | 7 years |
PF withdrawal for home construction/ purchase | For land – Up to 24 times of monthly basic salary plus dearness allowance; For house – Up to 36 times of monthly basic salary plus dearness allowance, Limits are restricted to the total cost | 5 years |
EPFO home loan repayment | Lower of the following: Up to 36 times of monthly basic salary plus dearness allowance; Total corpus consisting of employer and employee’s contribution with interest. Total outstanding principal and interest on housing loan | 10 years |
EPFO home renovation (other than PF withdrawal for home construction) | Lower of the following: Up to 12 times the monthly wages and dearness allowance, or Employees contribution with interest, or Total cost | 5 years |
Partial withdrawal before retirement | Up to 90% of accumulated balance with interest | Employee should be 54 years and withdrawal should be within one year of retirement/superannuation |
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