The Employees’ Provident Fund Organisation (EPFO) has increased the time period for availing premature final settlement during unemployment as well as final settlement from the existing two months to 12 months.

The minimum time period for final pension withdrawal has been increased from two months to 36 month.

These changes — along with a relaxation in withdrawal norms for education, illness, housing and special circumstances — are expected to come into effect in the next 1-2 months, a government official said on Tuesday.

The changes in the minimum period for withdrawal only affect 75 per cent of the PF contribution, as new provisions require members to maintain a minimum of 25 per cent of the contribution at all times. The move is aimed at boosting existing pension corpus levels that t

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