How to use my old EPF money – Withdraw, Invest or Prepay home loan ?

POSTED BY RRG ON March 24, 2014 2:37 pm COMMENTS (3)

I recently changed my job and have doubt about Provident Fund.

PF of approx. 1 lacks is accumulated in my PF account from my previous job. I have an option of withdrawing this sum and invest it somewhere else (I know ideally I should transfer this amount to new PF account).

Please suggest which will be more profitable option from below:

·         Transfer amount from old PF account to new one (I heard that this takes long time. Aslo usually we don’t get chance to withdraw PF).

·         Home loan prepayment (I have taken 14 lacks home loan in 2012 and EMI is jointly paid by my wife).

·         Investment in share market ( I am already doing SIP of 15000 per month)

·         FD / tax saving FD

·         Any other profitable option

Please suggest what should I do? I want to withdraw this amount for better. 
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3 replies on this article “How to use my old EPF money – Withdraw, Invest or Prepay home loan ?”

  1. ashalanshu says:

    Dear RRG, as you are not jobless, you can not withdraw your PF amount. It should be transferred mandatorily.

    Thanks

    Ashal

  2. curiousraj says:

    RPG, Transfer it to EPF A/C of your current company. As I can see you are able to do SIP of 15K/month and your wife is also working. so better get tax benefit on Home loan and keep money in EPF invested as it would be tax free (after 5 years of EPF A/C Opening).

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