Top News

PF Account Rules: There's good news for PF account holders. According to the new rules, you can now withdraw up to 75 per cent of the amount from your account when needed, without having to provide a reason.

PF Account Rules: A major relief has been announced for PF account holders, which will benefit them significantly. PF will no longer be limited to just retirement savings; it will also serve as financial support for employees when needed. India's Minister of Labour and Employment, Mansukh Mandaviya, who participated in ABP Network's India@2047 Entrepreneurship Conclave, openly discussed the arrangements related to PF.

He stated that the government's focus regarding the Employees' Provident Fund is to make it simpler, more flexible, and useful in times of need. Important information regarding withdrawals from PF accounts was also provided. People can now withdraw up to 75% of the money from their PF accounts anytime. Let's give you the complete details.

Now you can withdraw 75% from your PF account without giving a reason

The Employees' Provident Fund Organisation has given a major relief to its millions of members. Under the new rules, PF account holders can now withdraw up to 75 percent of the amount from their accounts without giving any reason. The only condition is that at least 25 per cent of the money must remain in the account. This decision was taken at the meeting of the Central Board of Trustees.

The meeting was chaired by Union Labour Minister Mansukh Mandaviya. Senior officials from the Ministry of Labour and EPFO ​​were also present at the meeting. The new rule allows withdrawal of up to 75 per cent, including both the employee's and the company's contributions. This will give salaried individuals easy access to their own money when needed, while also ensuring that the necessary savings for retirement remain secure.

What were the rules before?

Previously, the rules for withdrawing money from PF accounts were quite restrictive. Withdrawal of the entire amount was allowed only in two situations: retirement or unemployment. If an employee became unemployed, they could withdraw 75 per cent of the amount after one month, while they had to wait two months for the remaining 25 percent. Previously, the entire provident fund (PF) amount was only disbursed upon retirement. The new rules have made this process much easier. The Ministry of Labour says that this will provide relief to all EPFO ​​members. The remaining 25 percent in the account will continue to earn an annual interest of 8.25 percent, ensuring that retirement savings remain secure.