PF Withdrawal to facilitate housing Needs – Amendment Gazette Notification

Now, you can withdraw 90% of PF savings for buying flat, land

You can now leverage up to 90% of your retirement savings parked in the Employees’ Provident Fund (EPF) account to have a house of your own

EPF members can make a one-time withdrawal or use their PF savings to make instalment payments for buying a flat or a tract of land to construct a house._

However, you need to find at least nine other EPF account holders who are also part of a cooperative society through which you intend to purchase a flat or land parcel. The society must be registered under any law.

The notification said that EPF members can withdraw their savings to “purchase a dwelling house or a flat, including a flat in a building owned jointly with others, outright or on hire-purchase basis, or for the construction of a dwelling house, including the acquisition of a suitable site for the purpose.”_

Repayment of loans: Employees with at least three years’ subscription to the EPF scheme will be allowed to withdraw their savings for housing purposes, including repayment of housing loans from their monthly contributions._

In addition to lump sum withdrawal of up to 90% of accumulations in provident fund accounts, members may opt for full or part repayment of loans out of monthly PF contribution also.

Further, the EPFO will make the payment for constructing flats or buying land directly to the cooperative society, housing agency or builders and not to the EPF subscribers.

In case the EPF subscriber fails to get the flat constructed due to some reasons, she will be liable to ensure that the withdrawn EPF savings is refunded into their provident fund account within 15 days “of such cancellation or non-allotment


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