Every employed person in India has a PF account. This service of EPFO is a savings plan for the future. Every month 12 percent of the salary received is deposited in the PF account. Interest on this is paid by the government. If needed, a person can withdraw money from this PF account. For this he has to follow some important rules and conditions. Only after this, the account holder can withdraw money from the account. Let us tell you in our news when the account holder can withdraw money from the PF account.
-In case of a shortage of money during marriage, a person can withdraw money from his PF account. Any person can withdraw up to 50 percent of the money contributed for marriage from his PF account with interest. But for this, the job is necessary for seven years. Apart from their marriage, employees can also withdraw money from their PF account for the marriage of their brother and sister.
-If someone has taken a home loan and is falling short of money to pay the EMI, then he can withdraw money from his PF account. For this, the person must contribute to the PF account for at least three years. For this, a total of 90 percent money can be withdrawn from the PF fund.
-Good health is very important for all of us. If you need money urgently for treatment, then you can withdraw money from your PF account. For this, Form 31 and C certificates have to be submitted. The signatures of the doctor and the account holder are required on this. You can withdraw up to Rs 1 lakh for treatment.
-Money can also be withdrawn from PF account to buy a house. The condition for this is that the PF account should be three years old. 90 percent of the total money can be withdrawn to buy a house. This facility can be availed only once.
-Money can also be withdrawn from the PF account for repairing the house. For this, money should have been deposited in the PF account for five years. You can withdraw 12 paisa of your monthly salary for repairing the house. This facility can be availed twice.
(PC: ISTOCK)
