Bank of Maharashtra
Housing Loan

Dear Sir

I Gajanan Supe Mo No 8855944534

I had submitted all necessary documents to bank of Maharashtra for my housing loan case. After 13 days, the proposal is rejected by Retail Asset Branch and all documents returned to my home branch. I asked branch to know about the sanctioning they showed me the paper given by the RAB along with my documents.

The reasons of rejecting were

1) No PF amount deduction from salary by the employer

2) The company is not PVT LTD

But I had submitted

1) Permanent letter

2) Form No 16

3) Detail of employer (In bank housing loan Form)

4) Letter for No PF Deductions from salary (Stamped and sign by Employer)

And all other necessary document

My employer is not able to deduct amount of provident fund due to less No of employees working in the firm. (As per Provident Fund Act 1952: PF deduction is applicable if the firm having no of employee >20 numbers)

I had started this collection of all document on 28 Feb and finally submitted to bank on 14 May

while collecting those document, I was regularly in contact with bank of Maharashtra.

Finally Bank Rejected that Proposal, Reject No: Rej21

What is solution for this case?? PF is not applicable due to Gov. Rule PF act 1952

Thanks