EPFO Alert 2025: If you withdraw money from your PF account by providing false or incorrect information, be cautious today. The EPFO has issued a warning to its EPF customers.
EPFO Alert 2025: If you withdraw money from your PF account by providing false or incorrect information, be cautious today. The Employees' Provident Fund Organization (EPFO) has issued a warning to its EPF customers. In a social media post, the EPFO stated that withdrawing your EPF funds for a false reason can be reclaimed. A penalty may also be imposed.
EPFO Provides Information on X
EPFO posted on the social media platform X (Twitter) stating, "Withdrawals of PF funds for the wrong reasons may result in recovery under the EPF Scheme 1952. Use your PF funds for future security and only for the right reasons. Your PF is your lifeline."
Learn When You Can Withdraw PF Funds
The EPF Scheme 1952 clearly states when you can withdraw PF funds:
Marriage (your own, your children's, or your siblings')
For your children's education
During a serious illness
When buying or constructing a house
If you withdraw PF funds citing these circumstances and use the funds for other purposes, the EPFO can recover the entire amount. Interest may also be charged on the amount withdrawn.
Section 68B(11) Rule
Under Section 68B(11) of the EPF Act, if you are found to have misused your funds, you will not be able to withdraw any funds for the next three years. Furthermore, no advance will be approved until you deposit the entire amount, including interest. With this rule, the EPF has attempted to secure the future of its subscribers by encouraging them to use their PF funds for a secure future.
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