InvestorQ : Hi Guys , am a software employee. Paying PF since 2 years.Can I withdraw some amount of it as per the latest rules ?Please suggest
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Hi Guys , am a software employee. Paying PF since 2 years.Can I withdraw some amount of it as per the latest rules ?Please suggest

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nishi Shah answered.
6 months ago
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-EPF can only be withdrawn after retirement, early retirement is not considered until the person reaches 55 years of age. The organization allows withdrawal of 90% of the EPF corpus 1 year before retirement, provided the person is not less than 54 years old at that time.

-As per the new rule, EPFO allows the withdrawal of 75% of the EPF corpus after one month of unemployment. The remaining 25% can be transferred to a new account after gaining employment.

-This means that you cannot withdraw your PF amount while you are on job and the employee has to declare unemployment to withdraw EPF.

-Partial withdrawal of EPF is permitted in case there's an emergency such as medical emergency, house purchase, higher education, marriage, construction, etc. It is also subject to some limits depending upon the reason.

-There’s no tax on withdrawal of EPF only if the employee contributes to the fund for continuous 5 years.

-You do not have to wait for the approval of your employer to withdraw your EPF, as per the latest rules, you can withdraw it directly from the Employee Provident Fund Organization by linking your Aadhaar to UAN and it has been approved by the employer.

-You can withdraw your EPF online or fill a form offline with EPFO.
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