A Guide to Taking Loans from EPF/PF Accounts

Many people are unaware that they can also borrow money from their PF accounts. The Employer’s Provident Fund Organisation (EPFO)allows their employees to withdraw money from their PF account in order to take out a personal loan.

This sum withdrawn from the account is more of an advance payment than a loan because the money withdrawn from the PF account does not need to be repaid. Below mentioned are some important and vital details for individuals who want to use this service.

How to apply for EPF loans?

  • Log in to the EPFO Unified Portal’s Member Interface.
  • Go to the Online Services and then to the Claim section.
  • To verify, you need to enter the last four digits of your bank account.
  • “Proceed for Online Claim” should be selected.
  • From the drop-down menu, choose PF Advance/ Form 31.
  • Choose “outbreak of Pandemic (COVID-19)” as the reason.
  • Enter the appropriate amount, a scanned copy of the cheque, and your address.
  • Click the “Get Aadhaar OTP” button.
  • To submit the request, enter the OTP.

Important documents for EPF loans?

Below mentioned are the documents you will require for easy application for EPF loans.

  • Form 19: This form is necessary for the Final PF Settlement.
  • Form 10-C: This form is needed for pension withdrawal benefits.
  • Form 31: This form is necessary for a partial withdrawal (advance) of EPF in an emergency. It may be viewed directly via the EPFO Unified Portal’s Member Interface.

Also Read

Unlocking Your Savings: A Guide to EPF Claim Forms

Stuti Talwar

Expressing my thoughts through my words. While curating any post, blog, or article I'm committed to various details like spelling, grammar, and sentence formation. I always conduct deep research and am adaptable to all niches. Open-minded, ambitious, and have an understanding of various content pillars. Grasp and learn things quickly.

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