PF withdrawal allowed for housing, medical, education as govt. has removed restriction

Q: The provident fund withdrawal issue, which has been in the limelight since the Union Budget in February, has found some support from the government.

Puneet Laskar,

20th April 2016

Legal in Delhi

labour minister bandaru dattatreya

epf scheme

pf withdrawl

provident fund

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Replies (3)

Hi all,
It means a subscribers will not be able to claim withdrawal of PF after attaining 54 yrs of age. They would have to wait till attaining the age 57 yrs as per the new norms. Am i right???

bashir,

20th April 2016

Comment

HI everybody,
You will be glad to know that the relaxation has also been extended to members who have joined an establishment belonging to or under the central or state government, and become a member of contributory provident fund or old age pension.

Rituraj,

20th April 2016

Comment

But earlier this month, EPFO had postpone till 30th April implementation of new norms that restrict 100% withdrawal of provident fund by members after unemployment of more than 2-months, among others.

Amreesh Murugan,

20th April 2016

@Amreesh,
Now, as per the govt. release labor ministry had decide to pay the full accumulations to the credit of a member, including interest up to the date of payment, if he or she fulfills any of the above mentioned conditions.

Rituraj,

20th April 2016

In February, the EPFO amended the EPF Scheme 1952 to tighten the various norms for withdrawal of provident fund including increasing age limit for filing such claims by retiring employees to 58 yrs from 54 yrs.

It was stipulated that the requirement of 2- months unemployment will not apply in cases of women members resigning from the services for the purpose of getting married, on account of pregnancy or child birth.

Ananya,

20th April 2016

It's a good move by the labor ministry has removed the provident fund withdrawal issue and now he allowed for housing, major medical treatment for self and family members, medical, dental and engineering education of children and for their marriage.

Amreesh Murugan,

20th April 2016

Comment

Actually, this changed were made after labour minister Bandaru Dattatreya received representations from trade unions. And these norms will come into effect from August.

Ananya,

20th April 2016