EPFO members can now withdraw 100% savings: What it means
Big update from EPFO: Over 70 million members can now withdraw up to 100% of their eligible savings, which is defined as 75% of your total EPF corpus, under three easy-to-understand categories.
This move ditches the old maze of 13 rules, making it much easier to access your money when you actually need it.
Withdrawals now fall under 3 easy categories
Withdrawals are now grouped into Essential Needs (think illness, education, marriage), Housing Needs, and Special Circumstances.
Need funds for college or a wedding? You can now dip in up to 10 times for education and five times for marriage—way more than before.
Plus, you only need one year of service to qualify.
You need to keep some money in the bank
You'll need to keep at least 25% of your EPF balance intact if you want that sweet 8.25% annual interest—so you don't drain your savings dry.
Partial withdrawals are now processed automatically with no paperwork hassle.
Final withdrawal window extended to 1 year
If you're leaving your job or finalizing your pension, there's less pressure: the window for final withdrawals is now a whole year (up from two months).
And pension processing time has been stretched out too, giving everyone a bit more breathing room.