The Employee Provident Fund Organisation (EPFO) has announced a significant relaxation in its withdrawal norms, allowing subscribers greater access to their funds for personal milestones. “The liberalisation of partial withdrawals ensures members can meet immediate financial needs without compromising their retirement savings or pension entitlements," it stated.
According to a recent release from the Labour Ministry, over seven crore EPFO subscribers can now withdraw up to 100% of their eligible funds, including both the employee and employer contributions.
Withdrawals For Education, Marriage Purposes- What Has Changed?
Under the revised guidelines, withdrawals for education purposes have been liberalised, allowing individuals to make up to ten withdrawals, while withdrawals for marri