PF account holders are in trouble! Now you will be able to withdraw 100% money if needed, all difficult rules are abolished

If you are also a working person, then there is a big and relief news related to your Provident Fund (PF)! The Employees’ Provident Fund Organization (EPFO) has taken some historic decisions which are going to make the life of more than 7 crore PF account holders of the country easier than before.

PF money is our own, but withdrawing it when needed was no less than a Mahabharata. Lots of rules, paperwork and long waits… but now all this is about to change.

The biggest good news: Now it is possible to withdraw up to 100% of the money!

This is the biggest change so far. EPFO has made the rules for withdrawing money very simple.

• What was there before?: Earlier, there were 13 different and confusing rules for withdrawing money, which were not easy for everyone to understand.
• What now?: Now all these rules have been abolished and only 3 easy categories have been made:
  1. Home needs: Like studies, marriage or treatment of any disease.
  2. Dream of building a house: To buy or build a house.
  3. Sudden trouble: Like a natural disaster, epidemic or loss of job. The biggest relief: You will no longer need to give any reason to withdraw money in this category!

This means that you will now be able to withdraw up to 100% of the total amount deposited in your PF account (including your and company’s share) whenever needed.

But wait! There is also a small catch (and it’s for your own good).

EPFO has added a new rule that you should have at least 25% balance Will always have to be maintained. This has been done so that some money is saved for your old age and you continue to get the benefit of high interest on PF (currently 8.25%).

There are more reliefs:

• The hassle of submitting papers is over! Complete process of withdrawing money now online and automatic Will happen. You will not need to submit any document.
• Just 12 months of work is enough: Now the minimum employment requirement for any kind of partial withdrawal has been reduced to just 12 months Has been done.
• More money for marriage and education: The limit for withdrawing money for needs like children’s education and marriage has also been increased significantly.

Overall, EPFO ​​has simplified its rules so much that now you will not have to visit offices for your own money. This is indeed a historic and employee-friendly decision.