I have contributed to the fund for nearly 12 years. I have joined a new organisation now. I have a Home loan with HDFC bank. Can I withdraw the entire amount lying in PF to adjust the Home Loan? If so what is the procedure? How much can I withdraw?
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Dear Vinod, 1) Your PF contribution is only for retirement purpose only. Not for other purposes. 2) You can take a home loan benefit in your Income Tax (Interest & Principal amounts) 3) I will suggest not to withdrawal PF, you will transfer PF to your existing employer and make a big fund for your retirement & other necessary needs.
Sep 08
It is advisable to carry forward the balance to your PF a/c with your new organisation.
Sep 07
you cannot withdraw the employers share , Contribution to pension fund . You can only withdraw around 80% of your share .
Sep 06
Dear Venugopal, In my opinion as per rule you can withdraw 80% of total amount if rule not changed, but PF is for after retirement. Be cautious.
Sep 05