1. #1
    Unregistered

    Can I take loan against my PF after 16 years of service? Required documents and maximum amount withdrawal limit for the same?

    I am working with a Manufacturing firm for last 16 years and I want to take loan against my PF amount for my daughter;s marriage. Am I eligible for it and how much maximum amount can I get for the same? What are the important documents required in this process?

  2. #2
    pathakg Array
    Join Date
    Aug 2012
    Location
    budaun
    Posts
    201

    Re: Can I take loan against my PF after 16 years of service? Required documents and maximum amount withdrawal limit for the same?

    Hi questionerAccording to the rule you are not eligible to loan facility against your p.f.-This option is available only between the third and sixth years.-The repayment can be made in lump sum or in convenient installments. -If you repay the loan in 36 months, interest will be charged at 12 percent per annum (or one percent per month). Otherwise, interest will be charged on the outstanding sum at six percent per month. -The interest is required to be paid in not more than two installments after the loan amount is fully repaid.-You may also go for a second loan if the first one is fully repaid.However, no loan can be taken at the end of the 6th financial year.I hope you have understood.Thankyou

  3. #3
    mahi4mk Array
    Join Date
    Aug 2012
    Posts
    194

    Re: Can I take loan against my PF after 16 years of service? Required documents and maximum amount withdrawal limit for the same?

    DEAR ASPIRANTS ,

    You confirm office policy if they give a loan pf based or not.

    In my view i think give you loan definatly but am not sure

    first you company manger and hr department.Your salary

    and your pf decided your loan if you get 20000 thousand

    every month.company give you loan.

    GOOD LUCK.

  4. #4
    sweetyilu Array
    Join Date
    Nov 2012
    Posts
    113

    Re: Can I take loan against my PF after 16 years of service? Required documents and maximum amount withdrawal limit for the same?

    hi friends..

    1)This option is available only between the third and sixth years.
    2)The repayment can be made in lump sum or in convenient installments.
    3)If you repay the loan in 36 months, interest will be charged at 12 percent per annum (or one percent per month).
    4)Otherwise, interest will be charged on the outstanding sum at six percent per month.

    all the best regards

    venki

  5. #5
    varshu Array
    Join Date
    Jan 2013
    Posts
    240

    Re: Can I take loan against my PF after 16 years of service? Required documents and maximum amount withdrawal limit for the same?

    hello friends...

    1)Yes,you can take but this option is available for only the between third and sixth years

    2)the repayment can be made in lump sum or in convinced installments

    3)if you repay the loan in 36 months,interest will be charged at 12 percentage per annum

    4)otherwise interest will be charged on the outstanding sum at six percentage per month

    all the best

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