PF money is received after retirement. However, many times a person needs his money for some other big work. In such a situation, PF money also comes in handy. The question is whether permission is given to withdraw PF money for a wedding taking place at home. The answer to this question is yes. However, some conditions have also been kept for this.
New Delhi. As soon as a person starts working, some part of his salary starts getting added to his PF account. By investing this money for a long time, it is recovered on retirement with interest.
However, sometimes a person may need his money even before retirement. In such a situation, the Employee Provident Fund can be recovered only in a few situations-
As per the rules, Employee Provident Fund can be withdrawn in three situations-
If you complete the age of 58 years, you get your money back with interest.
In any case, if a working person becomes unemployed, then he can get money if he remains unemployed for two months.
If a working person dies before the age of retirement, then this money can be recovered.
Apart from these situations, a person can also withdraw PF money for some of his major needs. However, some rules have been made for this also.
You can withdraw PF money for marriage
According to the rules of the Employees Provident Fund Organization, a salaried person can withdraw this money for a wedding in the family. However, for this it will be necessary to keep some things in mind. PF money can be withdrawn for marriage under certain conditions.
After how much time can PF money be withdrawn
To withdraw PF money, it is necessary to complete at least 7 years of service.
How much PF money can be withdrawn
A salaried person cannot withdraw all the PF money for marriage. A person can withdraw only 50% of the employee’s contribution along with interest from PF.
For whose wedding can PF money be withdrawn
A person can withdraw PF money for his own wedding expenses. However, if the wedding is in the person’s house, then money can also be withdrawn for the marriage of siblings or children.
