The Employees’ Provident Fund Organisation’s (EPFO’s) move to liberalise and simplify withdrawals has ensured that members are not able to move out all their retirement savings at one go and would be able to access only 75% of the funds.

As per the decision of the Central Board of Trustees of the EPFO on October 14, members can withdraw 100% of their eligible balance for three broad categories of requirements including essential needs such as illness, education and marriage; housing needs and special circumstances for which no reason has to be attributed. For essential needs like education, members can make up to 10 withdrawals while for marriage up to 5 withdrawals. Advertisement

“A provision has been made for earmarking 25% of the contributions in the members’ account as Minimum Balan

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