EPF Partial Withdrawal Provisions Simplified
The Central Board of Trustees (CBT), Employees’ Provident Fund (EPF), has approved several landmark decisions to simplify and liberalise the EPF partial withdrawal provisions under the chairmanship of Dr. Mansukh Mandaviya, Union Minister for Labour & Employment and Youth Affairs & Sports.
A simplified structure has been introduced, merging 13 existing withdrawal provisions into 3 categories:
- Essential Needs (illness, education, marriage)
- Housing Needs
- Special Circumstances
Enhanced withdrawal limits have also been introduced, allowing members to withdraw up to 100% of their EPF balance, subject to maintaining a minimum balance of 25% of the contributions in their account.
Dr. Mansukh Mandaviya has approved these landmark decisions to simplify and liberalise the EPF partial withdrawal provisions.
Author's summary: EPF simplifies partial withdrawal provisions.
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