How Much PF Can Be Withdrawn For House Construction?

Wondering

how much PF can be withdrawn for construction of house

. The Employees' Provident Fund (EPF) allows members to withdraw funds for various purposes, including house construction.

How Much PF Can Be Withdrawn for House Construction?

• The withdrawal rules are designed to help employees utilise their savings for significant life events, such as building a home. Here's an overview of how much PF can be withdrawn for house construction:

• The member must have completed at least five years of membership in the EPF. The house must be in the member’s name, their spouse’s name, or jointly owned.

• A member can withdraw up to 90% of their EPF balance (both employee and employer contributions) for the purpose of house construction. The maximum withdrawal amount is limited to the lesser of 90% of the EPF balance or the cost of construction.

• A declaration form specifying the construction details. Proof of ownership or land documents where the house will be constructed. Construction plan approval and cost estimate.

• Log in to the

  EPFO member portal

  using your Universal Account Number (UAN) and password. Navigate to the “Online Services” tab and select “Claim (Form-31, 19 & 10C).”

• Fill out the required details and choose the reason for withdrawal as “House Construction.” Upload the necessary documents and submit the claim.

• The EPFO will review the application and verify the documents. Once approved, the funds will be directly transferred to the member’s bank account linked with the UAN.

• The member must utilise the withdrawn amount solely for house construction. The construction should commence within six months of the withdrawal and should be completed within 12 months.

By adhering to these guidelines, EPF members can effectively use their provident fund savings to fulfill their dream of constructing a house. This is

how much PF can be withdrawn for construction of house

.

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You can withdraw money from your PF account if you are purchasing or constructing a home. For this, your PF should be opened at least 3 years before you can withdraw money from it. Now the question that we ask is how much pf can be withdrawn for house construction? Well, for the construction of the house you can withdraw up to 90% of your accumulated corpus. Keep on reading to understand what are the PF withdrawal for construction of house documents required.

Documents required for PF withdrawal for house construction:

• To obtain money for a home loan from PF you need to get the Universal Account Number (UAN).

• You should mention details of your bank along with the name according to the EPF account.

• You cannot transfer your PF to a third party. You need to have the PF in your name to withdraw money from it.

• Personal details such as the father's name and date of birth according to the birth certificate should be mentioned along with identity proof.

• The date of joining and date of leaving should be mentioned along with EPF details.

• Visit the UAN website.

• You need to log in with your UAN number and password.

• Fill in the captcha and submit.

• Now go to the 'manage' tab and choose the KYC option. If you have already updated the KYC information go to the 'online service' option.

• Now choose 'Claim Form 31, 19 and 10 C'.

• You will have to check the information appearing on your screen. 

• Enter the bank details and click on verify.

• Sign the declaration.

• Tap on 'Proceed for Online claim.

• Choose ' PF Advance (Form 31)'.

• Now choose the certificate and submit the form.

• After employer approval and verification the amount will be transferred to your account.

To check out the eligibility criteria to withdraw money from PF for housing construction read: