Dear All,
Please advice on below points. one of our company's employees is getting married in december and he wants to withdraw/advance his pf amount for his marriage.
1. In case an employee has completed 3 years of his service in an organisation and he wants to withdraw his PF from EPFO. Is he eligible to withdraw PF. If yes than what is the procedure for the same.
2. in case he want advance from his PF account is there any rule that person who has completed 7 years only he/she can apply for advance of PF.
3. What is the maximum number of amount employee can apply for Advance Payment.
Please advice at the earliest.
Best Regards
Nupur
From India, Valsad
Please advice on below points. one of our company's employees is getting married in december and he wants to withdraw/advance his pf amount for his marriage.
1. In case an employee has completed 3 years of his service in an organisation and he wants to withdraw his PF from EPFO. Is he eligible to withdraw PF. If yes than what is the procedure for the same.
2. in case he want advance from his PF account is there any rule that person who has completed 7 years only he/she can apply for advance of PF.
3. What is the maximum number of amount employee can apply for Advance Payment.
Please advice at the earliest.
Best Regards
Nupur
From India, Valsad
Nupur:
Withdrawal of P.F for reasons of marriage - 7 years of service mandatory. If 7 years of service is completed, then form 31 applies. And proof is required (notice of marriage, invitation card copy)
However, most people misunderstand the minimum of 7 years - it doesn't have to be with 1 employer but 7 years of service! If the employee has held a PF account for 7 years, then he's eligible.
For reasons of marriage, upto 50% can be withdrawn.
If employee is not eligible and you/your organization want to help, then you can advance him the money and deduct it in equal installments.
From India, Mumbai
89Withdrawal of P.F for reasons of marriage - 7 years of service mandatory. If 7 years of service is completed, then form 31 applies. And proof is required (notice of marriage, invitation card copy)
However, most people misunderstand the minimum of 7 years - it doesn't have to be with 1 employer but 7 years of service! If the employee has held a PF account for 7 years, then he's eligible.
For reasons of marriage, upto 50% can be withdrawn.
If employee is not eligible and you/your organization want to help, then you can advance him the money and deduct it in equal installments.
From India, Mumbai
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PF Online Advance PPT.pdf
PF Advance rule.doc