EPFO can be withdrawn upto 75% after a month of job loss

EPFO can be withdrawn upto 75% after a month of job loss

EPFO has announced that its members have now an option to withdraw 75 per cent of their funds after one month of unemployment and keep their PF account with the body.

Further 25 per cent of their funds and go for final settlement of account after completion of two months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.

Labour Minister Santosh Kumar Gangwar has said ” We have decided to amend the scheme to allow members to take advance from its account on one month of unemployment. He can withdraw 75 per cent of its funds as an advance from its account after one month of unemployment and keep its account with the EPFO”

Till now a subscriber can withdraw his or her funds after two months of unemployment……….Read More>>

 

Source by techiyogiz

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