Hi All,
Request your opinion on below mentioned issue.
Employee had taken PF advance earlier for House Construction and now we are in receipt for another request asking for Repayment of Loan for the new flat purchase (This is separate from the one which has been constructed)- we are stuck as to whether the PF advance can be released only for repaying the loan for the earlier property or it can also be availed for the new flat purchase as requested by the Employee.
Request your kind suggestion.
Regards,
Keshav Reddy
From India, Bangalore
44Request your opinion on below mentioned issue.
Employee had taken PF advance earlier for House Construction and now we are in receipt for another request asking for Repayment of Loan for the new flat purchase (This is separate from the one which has been constructed)- we are stuck as to whether the PF advance can be released only for repaying the loan for the earlier property or it can also be availed for the new flat purchase as requested by the Employee.
Request your kind suggestion.
Regards,
Keshav Reddy
From India, Bangalore
PF advance will not be available if the second application is submitted before five years of first sanction. As far as company HR is concerned, you can just send it to PF Office and the sanctioning or rejection is their call. If rejected they will give valid reason for rejection.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
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Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc