Did you know that you can withdraw the savings accumulated in your Employee Provident Fund (EPF) account if you are thinking of purchasing or constructing your house? But the catch is that you should have completed at least 5 years in your job or service. There is also a maximum withdrawal amount which is 36 times of your monthly take-home pay if you are constructing a property and it is 24 times of your monthly take home salary if you a purchasing a property. Also, the withdrawal is allowed just once during your entire tenure in that organization.
You might need to withdraw some amount for repayment of your home loan. In that case you should have completed minimum 10 years in your service. But things are different if you are retired or have just stopped working. Then one needs to fill a PF withdrawal form and share your bank account number. After submitting the paperwork, one may have to go through the process of correction/resubmission of forms in case of any discrepency of information which as a process may become very cumbersome in absence of an expert consultation. You may not have that kind of patience and time to do all this, especially if you are an NRI.
In case of a PPF account, withdrawal can only be done after 15 years of opening an account. If you still need to withdraw before 15 years, the amount is calculated accordingly and then there’s specified paper work to be done. Though in general, people withdraw their EPF or PF after they quit an organization. But the process of PF amount withdrawal or transfer is very time consuming and cumbersome as it may require multiple visits to the PF offices. This is where we step in. Hometurph can assist you in completing PF redemption or a transfer process by:
- Providing you the list of documents required
- Helping you in filling all the required forms and submitting them to the concerned departments
- Following up with the PF office and ensuring faster completion of the process
- Getting the job done within the stipulated deadline
Our service providers will offer you expert consultation and assistance in documentation and if required to represent your case with the relavent authorities. Hometurph provides an easy payment gateway with international and domestic cards option and assured customer satisfaction.
So if you are living abroad and don’t know how to manage doing the formalities of withdrawing your EPF or PPF, just get in touch with us and rest assured that our service providers will take care of the rest. Come and register with us from any part of the world and experience our best-in-class services in EPF withdrawal services and also PPF withdrawal services.