How much EPF can you withdraw to build house?
How much EPF can you withdraw to build house?
Employees can withdraw money from their Employees' Provident Fund (EPF) savings to buy land, construct a house, or purchase a flat. To be eligible for this withdrawal, members generally need to complete at least five years of continuous service. The exact withdrawal amount depends on the employee's total salary and the cost of the property or construction.
NAI summary30-second read
What happened
Members of the Employees' Provident Fund can withdraw a portion of their savings to build a house or buy land, subject to specific service and contribution rules.
Why it matters
If you are planning to build your own home, you can actually tap into your Employees' Provident Fund (EPF) savings to fund the construction. Knowing these withdrawal rules helps you plan your finances better without having to rely entirely on expensive home loans.
Impact
Members will check their eligibility criteria, service period requirements, and submit withdrawal applications through the EPFO portal to get funds for construction.
Read the full story at Economic Times.