PF Account- You can withdraw money from the PF account for these works, know the full details

If you are a working person then you must be aware of the PF account, which is managed by the Employees Provident Fund Organization (EPFO). This account acts as a future savings plan, in which 12% of your salary is deposited every month, along with interest paid by the government. It also provides various options to withdraw funds in specific circumstances. Let us know under what circumstances you can withdraw money from it-

1. Medical emergency

If you need immediate medical funds, your PF account can assist. You can withdraw money by submitting Form 31 along with a medical certificate signed by both the doctor and the account holder.

2. Buying a house

Your PF account can help you in this endeavor. To be eligible, your PF account must be at least 3 years old. You can withdraw up to 90% of the total PF amount to buy a house.

3. Home renovation

You can use your PF funds for this purpose as well. You need to have contributed to your PF account for at least 5 years to be eligible. For renovation, you can withdraw up to 12 times your monthly salary, but this can only be done twice.

4. Home loan EMI payment

Your PF account can help ease the burden of EMI payments. You need at least 3 years of contribution to withdraw funds for this purpose.

5. Wedding expenses

At the time of personal celebrations like weddings, PF funds can provide financial relief. Employees can withdraw up to 50% of the PF balance (including interest) to meet wedding expenses.