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Give a loan or withdrawal

Use Add New on the PF Transaction page for any of the four everyday PF transaction types.

Choose the type

Section titled “Choose the type”
Type Use it for
Loan Given A loan paid to the employee from their PF. Repayments come through Payroll.
Permanent Withdrawal Money permanently taken out of the employee’s PF.
Other Addition A correction that increases the employee’s PF.
Other Deduction A correction that decreases the employee’s PF.

Steps

Section titled “Steps”

  1. Pick the employee and type

    Choose the Employee and Type. The type cannot be changed later; delete the draft and create a new one instead.

  2. Enter the details

    Enter the Post Date and Amount. Reference is optional. Description is required for Other Addition and Other Deduction.

  3. Fill the voucher rows

    The first row is the PF or loan account and is filled in for you. Add rows for the other side, such as the bank account, each with an Account, a Project and a Debit or Credit amount.

  4. Balance and save

    Debits must equal credits. Click Save or Save & Post.

Check the balance

Section titled “Check the balance”

For a Loan Given or Permanent Withdrawal, the form shows the employee’s Gross PF Balance, Outstanding Loan and Available Balance as of the Post Date, from posted entries.

There is no limit on the amount. If it is more than the Available Balance, a hint appears under Amount, and Save asks you to confirm (Amount exceeds available balance). Posting a draft from the PF Transaction page does not ask again.

How much can Ali borrow?
Gross PF Balance 300,000.00
Outstanding Loan (30,000.00)
Available Balance 270,000.00

A new Loan Given or Permanent Withdrawal for Ali of up to 270,000.00 saves without a warning. A larger amount asks you to confirm first.