Good News for EPFO Subscribers! Now Withdraw 100% from Your Eligible PF Balance

EPFO Withdrawal Rules: The Employees’ Provident Fund Organisation (EPFO) has brought great news for its members. In the recent 238th meeting of the Central Board of Trustees (CBT), several significant changes have been made to the rules for withdrawing money from a PF account, which will come as a huge relief for crores of EPFO subscribers. With these new rules, subscribers can now withdraw money from their PF accounts more easily and quickly for their needs.

What are the benefits of the new rules?

The new rules have been introduced with the aim of improving the ‘ease of living’ for EPFO members. Let’s find out in detail about these new changes:

• 100% Withdrawal Facility: The biggest change is that EPFO members can now withdraw up to 100% of their ‘eligible balance’ from their PF account. This includes both the employee’s and the employer’s share. This will allow members to withdraw a large sum of money for their urgent needs.
• Simplification of Partial Withdrawal Rules: Previously, there were 13 different and complex rules for partial withdrawals, which have now been consolidated into just three simple categories. These three categories are:
  • Essential Needs: Withdrawals for urgent needs like illness, education, and marriage.
  • Housing Needs: Withdrawals for housing-related needs like building or buying a house.
  • Special Circumstances: Withdrawals for other unforeseen situations.
• Increased Withdrawal Limits: The withdrawal limits for certain purposes have been increased, which will be very beneficial for members.
  • For Education: Withdrawals can now be made up to 10 times for educational purposes.
  • For Marriage: Withdrawals can be made up to 5 times for marriage purposes.
  • This change is a major step forward from the previous limit of only 3 partial withdrawals in total for both marriage and education combined.
• Reduced Minimum Service Period: The minimum service period required for all partial withdrawals has been reduced to just 12 months. This will allow new employees to withdraw money easily if needed.
• No Reason Required for ‘Special Circumstances’: Previously, members had to provide a specific reason for withdrawals under ‘Special Circumstances’ such as natural calamities, lockouts, or unemployment, which often led to claim rejections. Now, members will no longer need to provide any specific reason for withdrawals under this category, making the application process much simpler.

These new rules will undoubtedly strengthen the financial security of EPFO subscribers and support them in times of emergency. The crores of employees in the country have welcomed this step by the EPFO.