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 EPF Withdrawal after lost of 1st house ownership, But still serving the financing for it

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mr.thinkpad
post Jul 7 2017, 08:22 AM

Enrich Traveller
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558 posts

Joined: Jul 2014
QUOTE(kirakun @ May 26 2017, 11:33 AM)
Exactly. Epf will not check your account detail. As long as you can provide proof of ownership transfer at the counter, u can do the withdrawal. Don't forget to bring along your s&p for the 2nd house purchase.
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if epf do check, might get into whole lot of trouble
mr.thinkpad
post Jul 7 2017, 03:13 PM

Enrich Traveller
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Senior Member
558 posts

Joined: Jul 2014
QUOTE(kirakun @ Jul 7 2017, 01:17 PM)
Why do epf want to check? Epf do not have any right to your personal account detail as well. 

Whatever u do with your money is none of epf's concern as long as there is proof of ownership transfer.

Pls refrain from posting hearsay.
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epf got every right spelled by law

Failure to Return Unused Amount for Withdrawal Purpose
If the applicant does not use the withdrawn savings for the intended purpose, the applicant is deemed as having committed an offence and shall, upon conviction, be liable to imprisonment for a term not exceeding six (6) months or fine not exceeding RM2,000.00 or both [Section 58A, EPF Act 1991 (Amendment) 2007].

Incorrect or False Declaration or Furnishing False Documents
If the applicant provides the EPF with false statement or forged documents, the applicant is deemed as having committed an offence and shall, upon conviction, be liable to imprisonment for a term not exceeding three (3) years or fine not exceeding RM10,000.00 or both [Section 59, EPF Act 1991 (Amendment) 2007].

Purchase Not For Residential Purposes
Housing Withdrawals are subject to the current terms and procedures. The EPF reserves the right to reject a withdrawal application if transfer of ownership is made less than one (1) year or if the purchase contains any element of investment and not for residential purposes as provided for under EPF Act 1991.

"Whatever u do with your money is none of epf's concern as long as there is proof of ownership transfer. " <-- this shows that the applicant does not use the withdrawn savings for the intended purpose

 

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