Brother's marriage? You can withdraw Employee Provident fund money

The maximum amount you can withdraw can’t go beyond 50 per cent of your share in the EPF account.

Bindisha Sarang April 28, 2017 14:50:45 IST
Brother's marriage? You can withdraw Employee Provident fund money

Planning to get married? Marriage expenses can break anyone’s back. Thankfully, your EPF money can come to your rescue. Of course there are some terms and conditions that apply. Read on to know more.

Brothers marriage You can withdraw Employee Provident fund money

Representational image. Reuters

For marriage of:
It’s no brainer that the funds are available if you (epf member) want to get married. But, did you know you can have access to these funds for your children as well? For your son's as well as your daughter's marriage. That’s not all, you can even make your EPF money withdrawal if you need the money for your sibling's marriage. Age of the sibling is no bar.

Conditions: You can withdraw from your EPF account if your have completed 7 years of service. In fact, you can withdraw for the same (marriage) reason for three times during your service. The maximum amount you can withdraw can’t go beyond 50 per cent of your share in the EPF account. Keep in mind, it’s 50 per cent of your contribution; which means, your employer's contribution to EPF account will not be taken into account. Of course when we say your contribution, we also include any interest you might have earned on your contribution. You will get the funds as a single installment for each time you apply.

What to do: To withdraw this amount you will have to fill in the Form No 31 which is available on the EPFO website. You will need to enter in the details of the event, like the full address of the venue and the wedding date. You will also need to attach a copy of the marriage invitation.

There are a number of reasons when you can actually withdraw from your EPF account. Keep tracking this space as we bring you more stories on that.  Check here to know more on how you can withdraw EPF money for medical treatment.

Updated Date:

also read

Chinese visa scam: ED files money laundering case against Karti Chidambaram
India

Chinese visa scam: ED files money laundering case against Karti Chidambaram

The ED's action came amid inputs that the Congress MP is likely to join the investigation at Central Bureau of Investigation (CBI) headquarters in Delhi, soon

Jharkhand: IAS Pooja Singhal, her CA sent to four more days of ED remand
India

Jharkhand: IAS Pooja Singhal, her CA sent to four more days of ED remand

Singhal, who was the secretary of the Department of Mines and Geology and the managing director of Jharkhand State Mineral Development Corporation Limited, had served as the deputy commissioner of the state's Khunti district between 2009 and 2010

EPFO adds 15.32 lakh net subscribers in March; women’s participation in organised workforce rises
Business

EPFO adds 15.32 lakh net subscribers in March; women’s participation in organised workforce rises

Age-wise comparison of payroll data showed that the age group of 22-25 years has been on the forefront by registering the highest number of net enrolments, with 4.11 lakh additions during March 2022