In a significant change in the withdrawal conditions for over 30 crore members of the Employees’ Provident Fund Organisation (EPFO) , the retirement fund body’s Central Board of Trustees in its 238th meeting Monday streamlined the categories for drawing out funds to just three — essential needs (illness, education, marriage); housing needs; and special circumstances. Withdrawal limits have now been eased with education withdrawals allowed up to 10 times and marriage up to 5 times from the existing limit of 3 partial withdrawals for marriage and education combined, as per a statement by the Ministry of Labour and Employment said.

The Ministry also said that EPF members can now apply for withdrawals without specifying any reason under ‘special circumstances’ category as against the requir

See Full Page