How to Withdraw Provident Fund Online for Buying a property: Check Eligibility, Process, and Limits

The Provident Fund (PF) is a significant source of savings for both government and private sector employees. A portion of the basic salary is deposited into the employee's PF account each month, and interest is accrued on the deposited amount annually. However, many PF account holders wonder whether they can easily withdraw the funds when needed, particularly when purchasing a new house.

EPFO members are permitted to withdraw money in advance from their PF fund to buy property. To be eligible, EPF members must have completed five years of membership. Additionally, there must be at least one thousand rupees in the account, including interest. Under this provision, if you are purchasing a new house or land, you can withdraw either 24 months' salary (including Dearness Allowance) or the total amount deposited in your EPF account, along with interest, whichever is lower.

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Moreover, if you have been working for five consecutive years and contributing to your EPFO account, you can make a partial withdrawal under certain conditions. For buying land or a house, you can withdraw up to 24 times your monthly salary. If you are buying or constructing a house, you can withdraw up to 36 times your monthly salary. 

Additionally, for home renovations, you can withdraw up to 12 times your monthly salary. It's also important to note that you can withdraw both your contributions and your employer's contributions, along with the accrued interest.