PF Account: Know When You Can Withdraw Funds

If you’re a salaried employee, you’re likely familiar with the PF account, managed by the Employees Provident Fund Organization (EPFO). This account serves as a savings plan for your future, with 12% of your salary contributed monthly, plus interest from the government. There are specific situations in which you can withdraw money from this account. Here are the details:

1. Medical Emergencies
   In case of urgent medical expenses, you can access funds from your PF account by submitting Form 31.

2. Home Purchase
   Your PF account can assist you in buying a home. To qualify, your PF account should be at least 3 years old. You can withdraw up to 90% of your PF balance for this purpose.

3. Home Renovation
   You can also use your PF funds for home renovations. You must have contributed to your PF for at least 5 years to be eligible. For this purpose, you can withdraw up to 12 times your monthly salary, but this option is available only twice.

4. Home Loan EMI Payments
   Your PF account can help ease the burden of home loan EMIs. A minimum of 3 years of contributions is required to qualify.

5. Wedding Expenses
   For personal celebrations such as weddings, PF funds can offer financial support. Employees can withdraw up to 50% of their PF balance for this purpose.