GPF Withdrawal Rules Relaxed, Get Money In 15 Days

Employees can also withdraw the fund for select purposes after completing 10 years of service.

Withdrawal can be done for the following purpose :

·         Education

·         Obligatory expenses | viz. betrothal (engagement), marriage, funerals, or other ceremonies of self or family members and dependants

·         For illness, the withdrawal may be allowed up to 90 per cent of the amount standing at credit of the subscriber.

·         Purchase of consumer durables

·         For purchase of motor car, motor cycle, scooter etc. or for repayment of loan already taken for the purpose.

·         For housing including building or acquiring a suitable house or ready built flat, repayment of outstanding housing loan, purchase of house site for building a house, constructing a house on a site acquired

Source | Financial Chronicle | 9 March 2017

Regards

Pralhad Jadhav

Senior Manager @ Library

Khaitan & Co                                                                    

Blog | http://pralhad-fyilibrarian.blogspot.in/

Website | https://sites.google.com/site/pralhadjadhavlib/home