Among all salaried only few members know that they can take advance from their EPF contribution that too for specific reasons. Hence it is better to know the rules and conditions which can apply to take that advance.
Latest News-EPF Universal Account Number (UAN)-What it is?
This advance facility is specifically designed in such a way that employee’s major needs like buying property, renovation of property, health issues or marriage and education of kids are easily met with advancing from their EPF. One may not get the full expenses by advancing from EPF but it certainly helps employees in case of emergency. Below table will illustrate you full details about when you can take advance and what are the conditions attached to it.
For all above advances you need to use Form No.31 which either your employer will provide or you can easily get it from EPFO site. Hope this information will be beneficial to all salaried.