PF Withdrawal Rules: The Employees’ Provident Fund Organization (EPFO) is a very beneficial option for private sector employees, as it can be used whenever they need money unexpectedly. Although the funds are deposited with you, you cannot withdraw all of them at will. There are certain rules and regulations. In this article, let us explain how many times and how much money you can withdraw from the EPFO for marriage.
Under the new EPFO rules, withdrawing PF for marriage has become much easier than before. Members can now withdraw up to 100% of their PF balance (employee + employer share) for their own or any family member’s wedding. Furthermore, withdrawals for marriage can now be made up to five times, compared to the previous limit of only three.
Previously, a minimum of seven years of service was required to withdraw PF for marriage, but this has now been reduced to 12 months. Similarly, there’s no longer a need to provide a marriage card or any other specific documents. A simple declaration is all that’s needed, simplifying the process.
New rules for withdrawing money
Among the changes EPFO has made to the rules for withdrawing funds from PF, the most significant change is that you can now withdraw your entire PF fund. The maximum withdrawal limit has been increased to five times, up from three previously. The most significant change is the years of service. Previously, different years of service were specified for different withdrawals, but now that limit has been reduced to 12 months. Furthermore, for marriage withdrawals, no marriage card or certificate is required; a mere declaration is sufficient.