PF Account – Need money to build a house? EPFO has made it’s process easy

PF Account – Good news for PF account holders. A good amount of interest is also received on the amount deposited in the PF account. This account also works as a savings account. You can withdraw the amount deposited in it anytime as per the need for various purposes.

If there is a medical emergency in your life. Or you need money for children’s education. Or you have to build a house. Then you can withdraw money from the PF account for this. Now EPFO has changed the rules for this and has given a lot of convenience to PF account holders.

90% of the PF fund can be withdrawn for needs like buying or constructing a house or paying down payment and EMI. Earlier, a minimum of 5 years of job was required for this. But now this money can be withdrawn only after 3 years. 90% of the PF fund can be withdrawn for needs like buying or constructing a house or paying down payment and EMI. Earlier, a minimum of 5 years of job was required for this. But now this money can be withdrawn only after 3 years.

But there is an important condition in this. Let us tell you that you can use the PF advance withdrawal option only once. That means it is necessary to take a decision after thinking well. Apart from this, two more changes have been made by EPFO. In which, in case of emergency, an advance of up to one lakh rupees can be withdrawn immediately.

This will make it easier to get money in situations like medical or personal emergency. Apart from this, EPFO has also said that soon PF funds can be withdrawn from UPI and ATM as well. This will make the process faster.