The Employees’ Provident Fund Organisation (EPFO) has approved wide-ranging initiatives aimed at simplifying withdrawals and modernising operations. The decisions, cleared at the 238th meeting of the Central Board of Trustees (CBT) and released through a PIB note, promise faster processing and fewer rejections. For subscribers, the package brings both convenience and constraint - easier access for most needs, but a new 12-month savings lock-in for part of the balance. Here is a lowdown.

How have the withdrawal rules changed?

The Board has merged 13 fragmented withdrawal provisions into three broad categories -- Essential Needs (illness, education, marriage), Housing Needs, and Special Circumstances. According to the PIB release, members may withdraw up to 100 per cent of their eligible

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