EPFO to Raise Auto PF Withdrawal Limit

To expand the 'Ease of Living' of its 7.5 crore members, Employees Provident Fund Organisation (EPFO) has decided to enhance the auto settlement of advanced claim (ASAC) limit by five times from currently Rs 1 lakh, sources told ANI.

- TDG NETWORK

According to sources, Sumita Dawra, Secretary, Ministry of Labour and Employment had approved the proposal to enhance the limit from Rs 1 lakh to Rs 5 lakh in the 113th meeting of Executive Committee (EC) of Central Board of Trustees (CBT), held last week.

This revision will enhance the ease of living for its crores of members.

The meeting was held in Srinagar, Jammu and Kashmir on March 28, which was attended by Ramesh Krishnamurthi, Central Provident Fund Commissioner, EPFO. Now, the recommendation will go for the approval of CBT.

After the approval of CBT, EPFO members can withdraw PF up to Rs 5 lakh through ASAC.