Govt eases rules for EPF withdrawals

THE Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) has relaxed rules for partial withdrawals from EPF accounts, allowing members to withdraw up to 100% of their eligible balances including both employee and employer share.

- - ENS BUSINESS BUREAU @ New Delhi

Labour minister Mansukh Mandaviya approved the decision of consolidating 13 existing withdrawal provisions into three broad categories sential needs (education, illness, marriage), housing needs, and special circumstances (such as natural calamities or unemployment). Under these revisions, withdrawals for education can be made up to 10 times, and for marriage up to five times, replacing the earlier cap of three.