PF Balance Can Now Be Withdrawn 5 Times for Marriage Expenses: Know When You Can Withdraw Money from EPF Account in Times of Need

PF Withdrawal for Marriage and Education

Under the new rule, EPF members can now withdraw money up to five times during their service period for marriage-related expenses. The limit has been increased from the earlier three times. Similarly, for education expenses, members can now make withdrawals up to 10 times.

Reduced Work Experience Requirement

The EPFO has also reduced the minimum service requirement for withdrawal. Now, members need to have just 12 months of work experience to withdraw funds for purposes like marriage, education, medical treatment, or home purchase. Earlier, this condition varied depending on the reason for withdrawal.

Simplified Rules for Special Circumstances

The ‘special circumstances’ withdrawal category has also been simplified. Members no longer need to specify whether the withdrawal is due to a natural calamity, epidemic, or factory shutdown. A general declaration will now be enough.

New Minimum Balance Condition

A new provision has been added under which PF members must maintain a minimum balance equal to 25% of their total contributions at all times in their account.

Though the board did not increase the minimum pension under EPS-95 from Rs.1,000 to Rs.2,500 as expected, these liberalised withdrawal norms are expected to provide much-needed financial flexibility and relief to employees during key life events and emergencies.