Can people take loans from EPF/PF accounts? Know details here

It is unknown to many people that taking a loan from their PF accounts. Employer's Provident Fund Organisation (EPFO) allows employees to partially withdraw money from their PF account to use it as a personal loan.

This amount withdrawn from the account is more of an advance pay than a loan as the amount taken out of the PF account is not needed to be paid back. For those who want to avail this facility, here are some important details:

EPF Loan: How to apply

• Visit the Member Interface of EPFO Unified Portal and login.
• Navigate to Online Services>Claim section.
• Enter the last 4 digits of your bank account to verify.
• Click on “Proceed for Online Claim”.
• Select PF Advance/ Form 31 from the drop down menu.
• Select purpose as “outbreak of Pandemic (COVID-19)”.
• Enter the required amount and upload a scanned copy of cheque and enter your address.
• Click on “Get Aadhaar OTP”.
• Enter the OTP to submit the request.

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EPF Loan: Important documents 

• Form 19: It is required for the Final PF Settlement.
• Form 10-C: It is required for pension withdrawal benefit.
• Form 31: It is required for partial withdrawal (advance) of EPF in case of an emergency. It can be directly accessed from the Member Interface of EPFO Unified Portal.