ESI, PF, PT & Others

One may choose to withdraw EPF entirely or partially.

EPF can be completely withdrawn under any of the following circumstances:

• At the time of retirement (On or after 58 years of age)

• If unemployed for two months of time

• Death before the specified retirement age

Partial withdrawal of EPF can be made under certain circumstances and subject to certain prescribed conditions which have been discussed in brief below:

For Medical Purposes-

• • An employee is allowed to withdraw employee’s share with interest or six times the monthly salary (whichever is lower) from the provident fund for the purpose of medical treatment

  • This withdrawal is applicable for medical treatments of self, spouse, children, and parents

  • There is no lock-in period or minimum service period for this type of withdrawal

For Home Loan Repayment-

• • For the purpose of repaying the outstanding home loan, the PF member is allowed to withdraw up to 90% of the corpus if the house is registered in his or her name or held jointly

  • However, to withdraw the amount, at least 3 years of complete service is required

For Marriage-

• • At least 7 years of service must be completed in order to be eligible for the withdrawal

  • 50% of the employee’s contribution with interest can be withdrawn

  • An employee can withdraw funds for his own, siblings or child’s marriage

For House Renovation or Reconstruction -

• • The employee can withdraw funds from his EPF account for the purpose of renovation and reconstruction

  • The house should be held in his/her name or held jointly with the spouse

  • The employee must complete at least 5 years of total service

  • The member can withdraw 12 times his monthly salary from his Provident fund account

For Purchasing or constructing a New House-

• • A PF member can withdraw a partial amount from his employee provident fund for the purpose of purchasing a plot and/or constructing it

  • The property should be registered in his or her name or held jointly with the spouse

  • An employee should have completed a minimum of 5 years of total service

  • 24 times of the monthly salary for purchasing a plot/36 times of the monthly salary for purchasing or constructing a house or the cost of the property or the total of employee’s and his employer’s share along with the interest amount (whichever is less) can be withdrawn

  • Withdrawal is allowed only after completing 5 years of service

  • Withdrawal for the purpose of purchasing a plot and constructing it can be done only once in the entire service tenure

Withdrawal before Retirement-

• • A person can withdraw his or her entire provident fund corpus after completing 58 years of age

  • The employee is allowed to withdraw up to 90% of the provident fund balance

Unemployment-

• • A person can withdraw 75% of his or her provident fund if he/she is unemployed for more than a month

  • For unemployment of more than 2 months, the remaining 25% of the corpus can be withdrawn