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SSNA
Hi All,
Iam a new member to this Forum. But i read this regularly & find it to be really useful
I have a query. I have completed 5 yrs of experience in the same organization.
I would like to withdraw some amount of my PF for downpayment for house. In such a case, i understnad that the amoutn will not be taxable as i have comeplted 5 yrs.
But would like to know if this amount withdrawn need to be repayed ( as a loan) again to my PF account?
Please help !!
Thanks in Advance.

From United Kingdom, London
malikjs
167

dear amount taken as advance/loan is not required to be repayed but i doubt whether you will get loan on the above said ground.
From India, Delhi
SSNA
Thank you Malik..!!
I do not require a loan. But i just want to withdraw money from PF.
I was doubtful whether it needs to be repayed.
So you mean to say the amount withdrawn need to be required?
Thank You!

From United Kingdom, London
Udayakumar G
2

Hi..
You can withdraw PF amount from your account for the following purpose after completing 5 years of membership in PF.
1. Construction of house.
2. Purchase of empty plot.
3. Purchase of flat.
For the above, all the documents related to site, house should be in your name.
You need not to repay the above amount back to PF. However if you are not producing the following documents for utilization of fund, the amount issued will be recovered back with mimimum interest.
1. For construction - Completion certificate
2. For Purchase of plot - Copy of sale deed
3. For Purchase of flat - Copy of Sale deed
Regards
Udayakumar G
9443628322

From India, Madras
kannanmv
257

Hai,
Udaykumar's views are perfect but to add a few points.
1. If you are repaying the loan amount to any bank then you need to submit the amount pending in the bank as a documentary evidence.
In such a case you may be in a position to furnish the original sale deed. So you need to make a request accordingly.
Also note that you will be able to withdraw amount only once in your service (for the same house you can seek additional loan for construction etc), but you cannot obtain loan for two different locations.
M.V.KANNAN

From India, Madras
smbhappy
51

For partial withdrawal from the PF for some personal needs (like marriage, house etc.), you need to apply in FORM 31 with all formalities completed (as stated therein).
From India, Chandigarh
yagniah
15

You can apply for House loan from your PF contributions / Purchase of House under Form 31.
You will get loan as per eligibility.
For constructing a house.
Along with Form 31, you are supposed to attach.
1. Your house site, where you propose to construct house, document.
2. Non encumbrance certificate from the concerned Registrar Office for a period
of 12 preceding years.
3. Certified house plan together with estimated cost for construction.
For purchase:
1. Plot /House documents and its link documents.
2. Non encumbrance certificate from the concerned Registrar Office for a period
of 12 preceeding years.
3. Agreement to sell document.
4. House Tax receipts of the Land Lord for the HOuse.
The loan need not be repaid. But the amount will be deducted from your contributions.

From India, Hyderabad
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