EPF Advance under Para 68B(7) Allowed on Self-Declaration After 60 Months

Key Takeaways: Self-Declaration Based Advance:

Members can now apply for the advance under Para 68B(7) by self-declaring that:

• The advance is being claimed only after 60 months from the date of completion of the dwelling house.
• There is no requirement to link the request with any prior withdrawal under Para 68B.

Software Update: The EPFO systems have already been updated to reflect this change, making the process smoother for members.

Instructions to Field Offices: It is advised that applications meeting the above criteria should be processed without rejection, assuming all other eligibility conditions are met.

Para 68B Para 68B of the EPF Scheme permits members to withdraw from their PF account:

• For purchase or construction of a house, or
• For repayment of home loans, or
• For alteration/renovation of the dwelling house.

Sub-rule (7) is a specific condition allowing subsequent advance after a period of time—here clarified as 60 months from the house completion date.