- Advertisement -
HomeNationalOnly in these 7 times in life can you withdraw your money,...

Only in these 7 times in life can you withdraw your money, plan accordingly

Do you know if you are trying to withdraw all the money from the PF account, then you cannot do it at any time. If you are depositing money in a PF account, then under certain circumstances you get the money back.

You can withdraw PF money completely under the circumstances in 7 circumstances.

Employed people collect a part of their salary as PF. After depositing money in the PM account, you can withdraw it at the time of need and in this you also get good interest on this money. But, do you know if you are trying to withdraw all the money from the PF account, then you cannot do it at any time. If you are depositing money in a PF account, then under certain circumstances you get the money back.

Actually, there are many such occasions in life, when you need money. You get money back at these points in your life. In such a situation, if you are trying to withdraw money, then tell you that under which circumstances you can withdraw the money of PF in full. Let’s know about those 7 situations when you can get all your money out.

For the treatment of any critical illness

If you want to treat yourself or any member in your family and need money for this, then you can easily withdraw money. However, in this, you have to give information about the history of the disease for more than a month and some important facts have to be given. The account holder will have to give a certificate approved by their employer or ESI. Declaration in this certificate is that anyone who needs medical treatment cannot be provided ESI facility or does not get ESI facility.

You can withdraw money at the time of marriage or studies

You can withdraw PF money for the wedding of someone in your family. However, for this your service history is seen and in this you must have a job of at least 7 years. In the case of education, you will have to apply under Form-31 from your employer and in this situation you can withdraw only 50 percent of the money.

You can withdraw money to buy a plot

When you are planning to buy a plot, you can withdraw money from provident funds. Also the condition is that you have to take the plot in the name of you or the family member and for this it is necessary to have 5 years of service. Also, the documents of the plot should also be given, in which it will be seen that the plot is not controversial. You can withdraw all the money at once.

You get money in matters related to building a house

You can withdraw money even while building a house and during this time you can withdraw money 36 times of salary. To repay a home loan, you can withdraw the PF after 10 years of the job. Apart from this, in the case of home renovation too, you get PF money and it can be up to 12 times the salary.

You can withdraw money at the time of retirement

You must be 54 years old. In this situation, you can withdraw up to 90 percent of the total EPF balance, but this withdrawal can be done only once.

Also read- Why PAN card is important, where it is used daily, instant check

.

Editorialhttps://www.newsncr.com
Newsncr.com latest publishes news from the automobile, investment, real estate, technology, and related sectors. But in addition to that, we also cover lifestyle topics, like fashion, food, travel, and health. Along with all these, we also keep an eye on rising topics like cryptocurrency, startups, venture capital.
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -