New Delhi: The Employees Provident Fund Organisation (EPFO) has reportedly approved significant changes to withdrawal rules during its recent meeting, sparking concern among salaried employees and financial experts alike. These changes, if implemented, may restrict full access to one’s own retirement savings and delay withdrawals in critical situations.
Full Withdrawal Only After 12 Months of Unemployment
Currently, EPFO allows full withdrawal of provident fund savings after just two months of unemployment. Under the proposed change, this period will be extended to 12 months, meaning members will have to remain jobless for an entire year to access their full savings. This move could put financial strain on individuals during periods of unexpected unemployment.
EPFO meeting yesterday ha