Amid mounting criticism and confusion over new withdrawal norms, the Employees’ Provident Fund Organisation (EPFO) has issued a clarification on the revised rules for accessing provident and pension funds in case of unemployment. The retirement body said that members can now withdraw up to 75% of their EPF balance “immediately” after losing their job, while the pension (EPS) accumulation can be withdrawn only after 36 months of unemployment. Advertisement

The clarification follows a wave of concern after the Central Board of Trustees (CBT) meeting on October 16, where it was decided to extend the waiting period for final EPF settlement from two months to 12 months, and for EPS withdrawal from two months to 36 months. The decision drew criticism from members who viewed it as restrictive,

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