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EPFO: Now EPF will give instant loan to buy a house; Know what is its limit

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EPFO Fund: Everyone dreams of building or buying their own house. He works hard day and night to fulfill this dream. But many times his dream remains incomplete due to lack of money. To fulfill this dream, the central government has announced that people can now use PF money to fulfill their dream of building a house.

Provident Fund (PF) is a great source of savings for employed people. In this, a part of the basic salary of the employee is deposited in the PF fund every month. The government also pays interest on this deposit on an annual basis. PF holders can also withdraw money from their PF account if needed.

Advance can be taken from PF for building a house. For this, the holders have to fill Form-31. This form will be available on the website of EPFO. You can also fill the form through UMANG app.

These documents will have to be given for advance in PF

    • Identification
    • Address proof
    • job documents
    • Building documents or home loan documents
    • You have to give the form to your company. Company will send your form to EPFO
  • After which EPFO ​​will process your request and transfer the claim amount to your bank account.

EPFO will give this much advance amount

You will be given 24 months basic salary and DA to buy a plot or site. Also, you will get 32 ​​months Basic Salary and DA with interest in EPF, whichever is less of the total share of the employee and the company for building or buying the house or flat or the total cost of construction. You can avail this facility only once.