The Employees’ Provident Fund Organisation (EPFO) has announced a major relief for its members by allowing them to withdraw up to 100% of their eligible provident fund balance. This includes both employee and employer contributions.

The decision was made during the 238th meeting of the Central Board of Trustees (CBT) held in New Delhi.

LONGER WAITING PERIOD INTRODUCED

One major change is the increase in the waiting period for premature final settlement. Members must now wait 12 months instead of two months to apply. For pension withdrawals, the waiting time has been extended even further—from two months to 36 months.

EPFO says the changes are meant to strike a balance between short-term needs and long-term savings.

RELIEF OR ROADBLOCK? EXPERTS REACT

While the move appears benefici

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