EPFO Simplifies PF Withdrawal Rules: New Categories, Easier Access to Savings

• EPFO has updated PF withdrawal rules, consolidating 13 reasons into three broad categories: Essential Needs, Housing Needs, and Special Circumstances.
• Full withdrawal is permitted for retirement, reaching age 58, voluntary retirement, permanent disability, or permanent settlement abroad.
• Unemployed members can withdraw up to 75% of their PF balance immediately, with the remaining 25% available after 12 months if unemployment continues.
• Partial withdrawals for illness, education, marriage, and housing are now easier, allowing up to 75% of the balance after 12 months of service.
• A minimum of 25% of total PF contributions must remain in the account to continue earning interest, and UPI-based withdrawals may be introduced soon.

Why It Matters: EPFO has streamlined PF withdrawal rules, making it simpler for members to access funds for various life needs.