EPF withdrawal confusion: Govt issues clarification, says 75% of PF balance can be withdrawn immediately after job loss

In the wake of ongoing debates and confusion over EPF withdrawal, Union Minister Mansukh Mandaviya on Wednesday clarified that up to 75 per cent of Provident Fund amount can be immediately withdrawn in case of job loss. He also stated that the remaining 25 per cent, which has now been categorised as mandatory minimum balance, can also be withdrawn after completion of one year since the job loss.

On Monday, the government had announced several changes with regard to the Employee Provident Fund (EPF) . In a meeting of the Central Board of Trustees (CBT), EPF, chaired by Mansukh Mandaviya, the Union Minister for Labour & Employment and Youth Affairs & Sports, it was decided to “simplify and liberalise partial withdrawals to enhance member convenience and retirement security”.

Advertisemen