PF Withdrawal in 3 Days: How to Use EPF Funds to Buy a House? Know here

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PF Withdrawal Guidelines: Every working individual aspires to have their own residence. Your Provident Fund (PF) can significantly assist in making this aspiration a reality. The EPFO provides its members with the special opportunity to withdraw a considerable portion of their funds prior to retirement for the purpose of buying a house, acquiring land, or renovating their existing home.

What do you need for withdrawal?

Accessing funds from your PF account for home-related expenses isn’t a simple task; it involves adhering to specific regulations. Firstly, the property you are claiming must be registered in your name or your spouse’s name. A minimum membership duration of 5 years is necessary for constructing or purchasing a home. If your intention is to pay off a home loan, the loan term should be 10 years. It is essential to have your Aadhaar and bank account linked (KYC) on the UAN portal to ensure that the funds are transferred directly to your account without any delays.

How much can you withdraw?

The EPFO has set up a clear yet user-friendly withdrawal structure. You can withdraw the following amounts according to your requirements:

You are allowed to withdraw up to 90% of your PF savings or your basic salary plus DA for 36 months (whichever is lower). If you wish to lessen the load of your current home loan, you can still withdraw up to 90% of the remaining balance. To maintain your previous home, you can withdraw an amount equivalent to your basic salary for 12 months.

Thanks to technological advancements, the PF claim process has become incredibly swift. With the EPFO’s updated system, if your documentation is complete, the funds will be deposited into your bank account within 72 hours (3 working days) after you submit your online application. This service is a great advantage for those who require quick access to funds for home registration or construction activities.

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About the Author

Sweta Mitra

Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food,...

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SwetaMitra@timesbull.com Author at TimesBull TimesBull
Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food, and books. For feedback - timesbull@gmail.com
Sweta Mitra - Author at TimesBull
About the Author

Sweta Mitra

Sweta Mitra - Author at TimesBull

Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food,...

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