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EPFO New Rules: The Employees' Provident Fund Organization (EPFO) has finally made a historic decision for its more than 70 million members. This decision will enhance both financial freedom and convenience for employees. Members will now be able to withdraw 100% of their PF account balance if needed. The government states that this step is aimed at promoting "Ease of Living" and providing easier access to their funds. Furthermore, the EPFO ​​has also given pensioners a special gift that will bring a smile to everyone's face.

The EPFO ​​has signed an agreement with the India Post Payments Bank (IPPB) to provide relief to pensioners. Now, EPS-95 pensioners will no longer have to visit banks or offices to submit their Digital Life Certificate (DLC). The postman will come to their homes to complete the process. Most importantly, the EPFO ​​will also bear the ₹50 fee for this service. This means that this service is now completely free for pensioners. This facility will be a boon, especially for senior citizens living in rural and remote areas, saving them both time and effort.

In simple terms, the EPFO ​​has signed an agreement with India Post Payments Bank (IPPB), allowing EPS-95 pensioners to submit their Digital Life Certificate (DLC) from home for free. The EPFO ​​will bear the ₹50 fee, providing significant relief to rural and remote pensioners.

Essential needs: such as illness, education, and marriage.

Housing needs: for buying or building a home.

Special circumstances, such as unemployment, natural disasters, or pandemics.

Claims under these three categories have now become extremely easy. Members can withdraw partial or full PF funds in just a few clicks, without the hassle of many documents.

It's worth noting that previously, a minimum of 5 years of service was required for partial withdrawals from PF, but now this tenure has been reduced to just 12 months, meaning even new employees can withdraw funds as needed after one year.

Withdrawal limits for education have now been increased to 10 times, and for marriage to 5 times. This will provide significant relief to young people in achieving their financial goals.

The EPFO ​​3.0 digital framework has also been approved, making PF services fully automated and multilingual. Members will now be able to take advantage of instant claims, online withdrawals, and self-service. The organization has appointed four new fund managers to ensure better returns on investments.

Clearly, if you are employed and have a PF account, this news is good news for you. Withdrawing funds has now become easier, faster, and more secure than ever before.

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