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Home >Money >Personal Finance >Partial PF withdrawal is allowed for EPFO subscribers under certain conditions

Provident Fund or PF account is considered one of the most reliable retirement-oriented fund accumulators. According to Employees' Provident Fund Organisation (EPFO) rules, it is mandatory for the EPFO subscribers and its recruiter to contribute 12 per cent of the basic salary of the employee. However, according to the PF withdrawal norms, an EPF account holder can go for the Provident Fund or PF withdrawal in certain conditions like loss of job, repayment of home loan, buying a home or home renovation, etc.

Speaking on the PF withdrawal rules that allows an EPFO member to go for partial EPF withdrawal SEBI registered tax and investment expert Jitendra Solanki said, "Partial EPF balance withdrawal is allowed under certain conditions like medical emergency, job loss, home loan repayment, home buy, marriage of children, etc."

Solanki said that in the case of job loss, an EPF account holder can withdraw up to 75 per cent of the EPF balance after one month of unemployment while the rest 25 per cent PF withdrawal is allowed if the unemployment continues for an additional one month.

PF withdrawal rule for home buying

EPFO rules allowing partial PF withdrawal for home buy Manikaran Singhal, founder, goodmoneying.com said, "An EPF account holder can withdraw up to 90 per cent of the EPF balance for buying a home or for home renovation. In fact, if an EPFO member has availed home loan earlier then in that case too, the EPFO subscriber can withdraw up to 90 per cent of the EPF balance for home loan repayment.

On PF withdrawal rule for marriage of child Jitendra Solanki said, "An EPF account holder can withdraw up to 50 per cent of one's contribution plus EPF interest for its child marriage. However, for PF withdrawal under this condition, the EPF account has to be at least seven year old."

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