EPFO Lets You Withdraw 100% Provident Fund—Here’s What You Should Know Now

The Employees' Provident Fund Organisation (EPFO) updates rules, letting members withdraw 100% of their savings with simplified processes. These changes benefit over seven crore Indians, streamline withdrawal categories, and introduce digital services for pensions. The Vishwas Scheme also makes it easier for employers to resolve old disputes, part of a broader digital upgrade launched by EPFO.

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EPFO Lets You Withdraw 100% Provident Fund—Here’s What You Should Know Now
Finance • 71 days ago • 3779 views

EPFO Lets You Withdraw 100% Provident Fund—Here’s What You Should Know Now

IN SHORTThe Employees' Provident Fund Organisation (EPFO) updates rules, letting members withdraw 100% of their savings with simplified processes. These changes benefit over seven crore Indians, streamline withdrawal categories, and introduce digital services for pensions. The Vishwas Scheme also makes it easier for employers to resolve old disputes, part of a broader digital upgrade launched by EPFO.

TL;DR

  • EPFO now allows members up to 100% withdrawal of provident fund balances.
  • Changes benefit more than seven crore EPF members nationwide.
  • Withdrawal types streamlined into Essential Needs, Housing, Special Circumstances.
  • Members can withdraw funds for illness, education, marriage up to set limits.
  • Partial withdrawal minimum service period lowered to 12 months.
  • Special circumstances don’t require a stated reason for withdrawal.
  • 25% of savings is recommended to remain for ongoing interest earnings.
  • New digital services via India Post Payments Bank enable door-step pension verifications.
  • The Vishwas Scheme reduces penal damages, eases legal disputes over delayed payments.
  • EPFO 3.0 digital upgrade brings faster, multi-language, and payroll-linked services.
  • New fund managers appointed for five years.

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