EPF DIVIDEND, EPF
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 Jan 19 2017, 02:49 PM
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#1
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Junior Member
378 posts Joined: Feb 2012 
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Sorry some dumb ques.
Let say a person have 100k in EPF account So account 1 = 70k, and acc 2 = 30k. Then withdraw 30k from acc 2 for house/ptptn/education etc. Balance account 1 = 70k, acc 2 = 0 Or Balance account 1 = 70k *70% = 49k Account 2 = 21k |
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Jan 19 2017, 03:09 PM
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#2
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Junior Member
378 posts Joined: Feb 2012
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QUOTE(wongmunkeong @ Jan 19 2017, 02:57 PM) Balance account 1 = 70k, acc 2 = 0 Thanks for the fast feedback.A/C 2 is for health, education, house  Let say a person monthly epf contribution is 2k (employer+employee) Acc 2 will be starting the saving again from zero with monthly 2k *30% = 600 ? Correct? |
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Feb 19 2017, 01:53 PM
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#3
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Junior Member
378 posts Joined: Feb 2012
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Based on EPF website, 1st time EPF withdrawal-account 2 to purchase house will direct credit to the person bank account right?
If the person use the money for other purposes such as higher yield investment vehicle, renovation house etc, will EPF track the purpose of the money usage?? (Will they recall the money) |
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Feb 19 2017, 10:12 PM
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#4
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Junior Member
378 posts Joined: Feb 2012
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QUOTE(MiKE7LIM @ Feb 19 2017, 02:07 PM) base on my assumption ... It will transfer to our bank ..the usage might not able to monitor by EPF bah..so many account holder in EPF Ya, I heard a lot peoples taking out EPF acc 2 for so called "house renovation".I'm also planning to withdraw acc2  hopefully someone can confirm this as wellLet's wait other members reply  |
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Feb 20 2017, 10:13 PM
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#5
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Junior Member
378 posts Joined: Feb 2012
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QUOTE(hey_there @ Feb 20 2017, 09:33 AM) Yes, you may withdraw acc2 for house. you may use it for anything even for investment. when u buy a house, u will fork out ur own money to pay for the 10% downpayment right? once sign s&p, u will proceed to withdraw from ur acc2. so the money is actually to pay back ur 10% that you have paid earlier. so epf don't care if u gonna use it for whatever reason. Make sense hehe..Thanks for the reply.. I will proceed to take out my little acc 2. |
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