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PF withdrawal: Now you can withdraw entire amount for housing, medical, education

New Delhi: In a little relief to the common man, the Employees’ Provident Fund Organisation (EPFO) has decided to change the provident fund (PF) withdrawal rules that restrict employees from withdrawing their entire PF balance till the age of 58.

Finance Minister Arun Jaitley during the Union Budget had announced amendment in the EPF Scheme 1952 to tighten the various norms for withdrawal of provident fund including increasing age limit for filing such claims by retiring employees to 58 years from 54 years.

A report in the Times of India said that the labour ministry has allowed PF withdrawal for housing, major medical treatment for self and family members, medical, dental and engineering education of children, and for their marriage.

Earlier this month EPFO deferred till April 30 implementation of new norms that restrict 100 percent withdrawal of provident fund by members after unemployment of more than two months, among others.

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