You're now required to be unemployed for 12 months: EPFO
EPFO just rolled out new rules for Provident Fund withdrawals, impacting millions of members.
Now, you'll need to be unemployed for at least 12 months to withdraw your full PF, and 36 months for pension access.
The goal is to help members build a more substantial retirement corpus, as most currently have low balances at settlement.
Partial withdrawals are still allowed, but with stricter conditions
EPFO has trimmed down partial withdrawal reasons from 13 to just three: essential needs, housing, and special situations.
You can take out up to 75% of your PF, but you'll always need to keep at least 25% in your account.
Plus, you'll need to have worked at least 12 months before making a partial withdrawal.
Education and marriage withdrawals now have limits
Need funds for education or marriage? You can now withdraw for education up to 10 times, and for marriage up to five times.
There's also a new option to shift your entire PF balance to your pension account, letting you earn EPFO's 8.25% annual interest with compounding.
It's all about balancing easy access with protecting your future nest egg.