Personal Finance22mo
by SqueakyBurritoMarketing and Growth
WigglyPotato
Epf withdrawal. Help!
Hey, I am about to get married and currently, I am in short of money. I have served my company for 5 years. So basically my total YOE is 5 years.
So wanted to check if I can withdraw some amount from EPF? Is there any hold period? Has anyone opted withdrawal? Please advise.
0mo ago
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BouncyNoodle
Stealth28d
Stupidity all over. You are marrying for yourself or for relatives? Why do you need a lavish marriage. God save you i can't say any advice. If your wife doesn't value your epf and wants you to put your epf for it. May this love never find me
WigglyPotato
Oracle28d
Judging too early is a sign of stupidity too. I appreciate your concern but it has got nothing to do with my wife wants.. I just don't want to sell off my holdings(stocks/mfs) because return on those are higher than what EPF is giving.
PrancingRaccoon
HCL28d
Get top up on home loan it will be cheaper for you
ZoomyNarwhal
Freelancer28d
The process of withdrawing the epf is totally absurd due to annoying epf portal which has so many issues. I would suggest you to reach out to your company hr and ask for person who deals with epf. They will help you out with the process and it takes months to withdraw the epf. I recently withdraw the epf for 🏠 and i was pissed off with the process even though i had my friend working over there.
WigglyPotato
Oracle28d
But will they allow me to withdraw ppf? My YOE is 5 and I guess for wedding minimum I should have 7 years of experience.!
JumpyPotato
Nothing Tech0mo
Bro, before that, please share -
- Whats your total budget/expenses of wedding you have estimated, all included from your end?
- Any jewellery you/your family is giving to your wife? Estimated ballpark cost of that?
- How did you plan for the expenses (if you did go via that route) ?
SleepyHamster
Why are you worrying about his marriage details?
ZippyMochi
Stealth29d
They've just changed the withdrawal rules, might want to check. It's very fucking difficult to withdraw if there's any KYC error or any other issue with your PF account or ex employer. Initiate the process and see how it goes.
FloatingMochi
Cognizant28d
Yes you can withdraw 50% of money under the illnesses category.
DizzyWalrus
Oracle28d
Bro just note down that it takes 7 to 20 days easily If you have immediate needs you need to plan accordingly
GoofyUnicorn
Google28d
You can withdraw 80% of the pf as advance pf with illness as reason no documents required
WigglyPotato
Oracle28d
Could you please explain what do you mean by 'advance' ? Is it more like a loan against my own money in epf account?
How many days did it take for the amount to get credited?
And did you use Umang app for withdrawal request?
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