Subscribers can make a partial withdrawal from the Employee’s Provident Fund (EPF) account by submitting Form 31, also called an advance form, subject to certain conditions as defined by the Employee’s Provident Fund Organisation (EPFO).

Here are some conditions under which you can withdraw money from your EPF account.

Para 68BB: Purchase or Construction of House

Para 68B of the EPFO rules allows withdrawals for purchasing and constructing a house through cooperative societies, Housing Finance Corporation, and other promoters. Claims can also be made for land purchase for house construction. For this purpose, the account must be open for at least five years. Those already owning a house or land are not eligible for an EPF advance.

If a jointly owned house needs repair, they can withdraw if the account has been open for at least 10 years. A declaration from the account holder stating the purpose of withdrawal is required. Payments for house purchases are made directly to the agency. In other cases, payments are made to the account holder. Para 68B allows only one withdrawal before retirement.

Also Read: What Is Annuity In NPS And What Are The Schemes Available?

Para 68BB: Repayment Of Loans

An EPF member can withdraw only for a refund of the outstanding principal and interest of a loan from an agency, such as a state or a nationalized bank, for purposes under Para 68B.  In such circumstances, a certificate from the agency indicating outstanding principal and interest is required along with Form 31, and the payment will be made directly to the agency.

Para 68H: Unemployment

The employees of an establishment who have been rendered unemployed without compensation due to the closure of a company for more than 15 days or where the employees haven’t received wages for two consecutive months for reasons other than a strike can withdraw money one or more times. A certificate from the employer is required with the advance form.

After being challenged in court, any dismissed employee can claim an advance under Para 68H one or more times by providing a copy of the petition filed in the court and a certificate from a member that the case is pending.

If the employees haven’t received compensation in six months due to the company’s closure, they can also claim an advance by filing Form 31 and a certificate from the employer.

Also Read: How Can NRIs Invest In The National Pension System (NPS)?

Para 68J: Illness In Certain Cases

In a medical emergency where the employee or their family requires treatment, a claim can be made by filing an advance form and a certificate signed by the employer and doctor; the payment will be made directly to the member.

Para 68K: Marriage or Post-Matriculation Education Of Children

In case of marriage of the accountholder’s children or sibling or the member itself, a withdrawal can be made if the account has been open for a minimum of seven years. Member’s declaration in Form 31 is required, and the member will be paid directly.

In the case of children’s education, a certificate regarding a course of study and estimated expenditure from the head of the institution is required. Para 68K only allows three withdrawals.

Para68N: Physically Handicapped

If an employee requires money to purchase equipment to minimize hardship due to being handicapped, they can present a certificate from the doctor and claim an advance. Para 68N provides for two withdrawals, which need to be three years apart from each other.

Para 68NN: Withdrawal Within One Year Before Retirement

An employee who is one year from retirement can claim 90 per cent of the advance by filing an advance form, but only if they are over 54.