{"id":1372,"date":"2025-06-24T08:12:00","date_gmt":"2025-06-24T08:12:00","guid":{"rendered":"https:\/\/www.acegroupindia.com\/blog\/?p=1372"},"modified":"2026-05-08T08:07:38","modified_gmt":"2026-05-08T08:07:38","slug":"employees-provident-fund","status":"publish","type":"post","link":"https:\/\/acegroupindia.com\/blog\/employees-provident-fund\/","title":{"rendered":"Finance A Home Purchase With Employees Provident Fund"},"content":{"rendered":"\n

Provident Fund is an obligatory, government-run retirement savings scheme for salaried professionals. The Employees Provident Fund Organisation (EPFO)<\/a> manages and functions under the Ministry of Labour and Employment of India. Provident Fund is a monthly arrangement, where both employer and employee contribute equally to the PF account. The goal of the employee PF scheme is to provide a total amount to employees after they retire. <\/p>\n\n\n\n

But, employees can also draw out the amount before their retirement, subject to specific terms and conditions. For example, an employee can take out the Provident Fund to buy land, construct a property, or purchase a house. There are, however, certain criteria that a home buyer must meet to take out their Employee PF. <\/p>\n\n\n\n

Let\u2019s look at how to use your employees provident fund to finance a home purchase.<\/p>\n\n\n\n

What Are The Criteria For Taking Out A Provident Fund For Purchasing a Home?<\/h2>\n\n\n\n

A worker with at least five years of contribution to their provident fund account can extract money for the purchase of a plot and\/or construction or purchase of a house. The purchaser can take out the amount for the construction of a house on the plot of land possessed either by the purchaser or their spouse or by both jointly. <\/p>\n\n\n\n

The qualifying amount to withdraw the provident fund would be based on the purpose of withdrawal. To purchase a plot, the withdrawal amount will be restricted to 24 months\u2019 basic salary and dearness allowance (DA). However, the amount of withdrawal should not surpass the cost of the plot.<\/p>\n\n\n\n

If you want to benefit from the withdrawal facility to construct or purchase a house, the availability increases up to 36 months of your basic salary and DA. This would be the maximum amount limited to the charges of the house. Bear in mind that you cannot mutually purchase the property other than your spouse, for withdrawing from the provident fund.<\/p>\n\n\n\n

Once you withdraw from the provident fund account, the construction must start within six months. The construction must be completed within a year of the last instalment of withdrawal. If you plan to buy a ready-to-move-in house<\/a>, you must complete the process of purchasing within six months. You can also make the withdrawals for purchase\/construction in one or more instalments, based on the circumstances.<\/p>\n\n\n\n

Luxurious residential projects in Noida Expressway such as ACE Parkway and ACE Starlit offer the ideal lifestyle for any homebuyer. With a plethora of amenities catering to residents of all ages, these projects are perfect to be considered as your next real estate investment. <\/p>\n\n\n\n

If you\u2019re planning to use your Employee PF to purchase one of the best projects in Noida Expressway, contact us today for more information.\u00a0<\/p>\n\n\n\n

\n\n\n\n

ACE PARKWAY<\/strong> \u2013 RERA REG NO. UPRERAPRJ4514 | www.up-rera.in\/projects<\/p>\n\n\n\n

ACE STARLIT<\/strong> \u2013 RERA REG NO. UPRERAPRJ677294 | www.up-rera.in\/projects<\/p>\n","protected":false},"excerpt":{"rendered":"

Provident Fund is an obligatory, government-run retirement savings scheme for salaried professionals. The Employees Provident Fund Organisation (EPFO) manages and functions under the Ministry of Labour and Employment of India. Provident Fund is a monthly arrangement, where both employer and employee contribute equally to the PF account. The goal of the employee PF scheme is to provide a total amount to employees after they retire.  But, employees can also draw out the amount before their retirement, subject to specific terms…<\/p>\n

Read More Read More<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[342],"tags":[142,57,177],"yoast_head":"\nFinance A Home Purchase With Employees Provident Fund - Blogs<\/title>\n<meta name=\"description\" content=\"The Employees Provident Fund is an obligatory, government-run retirement savings scheme for salaried professionals. 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