PF Housing Loan

Hi Friends,
I planning to take PF loan for House Puchase (Flat in navi mumbai), how much i can get, what is the calculation to calculate max loan amount, and what is the repayment procedure, it is like normal loan ( like EMI )? or they automatically deduct from salary, whether we have the option to chose no of yrs to repay the amount.
Pls brief me the loan Taking and Repayment procedures
Thanks
Anantha

Dear Friend,
As per P.F norms if any employee having continuous service of five years he is eligible for taking loan. Employee gets only the percentage of amount prescribed by P.F authorities from his and Employer P.F contributions (12% +3.67 %.). Note that P.F authorities will not give any loan on EPF amount (8.33%).
About Interest & Loan concern they will not charge any interest and need not to repay the loan amount. They simply deduct the same amount at that time of Withdrawal and balance will be paid to Employee.
In your case if you have the above stipulated service you can take the loan by using Form No. 31 which can be downloaded from this site http://epfindia.nic, and you have to submit the required documents along with Form.
For more information please go thru the above mentioned site you will get the detailed information .

Hi,
Let me know what percentage of deposited amount of (12%+3.675) can be with drawn against housing loan what document required.
Regards
Bijoy

Dear All,
Before one month one of my new question was how to surrendered P.F & ESIC code in respective dept.but till date no body reply it.Please help me in this regard.
Best Regards
Bijoy

Dear Friend,
To my knowledge P.F & ESI codes would be surrender at that time of company closing.
I think company has to inform to respective departments by writing a formal letter, In order to write a letter company has to surrender the original certificates. If you consult the respective department P.R.O's they will tell the procedure how to do the same. My sincere advice is go to your
Company coverage P.F & E.S.I office and meet the aforesaid officials and ask your queries, I am sure they will help you.