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Can I take an withdrawal/advance from the balance accumulated in my Provident Fund account?

Yes, you can take a withdrawal/advance from your Provident Fund account. Here is the process:

• Upon resignation or retirement from an establishment you can apply for PF withdrawal using Form 19. Withdrawal is allowed under two options: (Download form 19)
  1. If the member has attained 55 years of age; or
  2. ii. The member should not work in any covered establishment for a period of 2 months from the exit date.

  Additionally, you also have an option to withdraw funds from your Employee Pension Scheme. If you choose to do so, you will need to file an application using Form 10C. (10C)

• You can also take an advances from your Provident Fund account, but only for certain specified purposes. The application for an advance is made using Form 31.
  
  

  Advance may be availed for the following purposes:

  • Marriage expenses for self, son, daughter and brother / sister
  • Education for self, son, daughter
  • Medical treatment
  • Purchase or construction of dwelling house.
  • Repayment of housing loan
  • Purchase of plot
  • Addition or alteration of house
  • Repair of house
  • Lockout or closure of establishment by employer
  • Withdrawal prior to retirement
• Please note that the amount of advance or withdrawal is not required to be refunded back into the account under normal circumstances. However, if the amount is not utilized for the specified purpose, then the same will need to be refunded with penal interest.
• A fixed minimum balance in the account has to be maintained before arriving at the amount of advance that can be taken from the account.

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