EPFO reduces membership wait to 12 months, allows 75% withdrawals
EPFO just updated its partial withdrawal rules, making it simpler for members to access their provident fund in tough times.
Now, you can take out up to 75% of your PF balance if you need it; no more waiting years.
Plus, the minimum membership period for most advance EPF withdrawals is now just 12 months (it used to be as long as seven years).
EPFO trims withdrawal categories to 3
Withdrawal categories have been trimmed down from 13 to just three: essential needs (like medical treatment, education, or marriage), housing needs (buying or fixing a home), and special circumstances, where you can withdraw up to 75% without giving a reason.
If you're unemployed, you can grab 75% of your funds right away and the rest after a year.
Medical withdrawals are not subject to a fixed limit on the number of times a member can seek an advance, subject to the applicable rules; education and marriage withdrawals are capped at 10 and five times each.