EPF rules explained: How to make a partial withdrawal online for marriage, home renovation or medical emergency
EPF partial withdrawal rules: A full withdrawal from your EPF account, on the other hand, is only permitted under two conditions: when the account holder reaches the age of retirement, or when the account holder remains unemployed for at least two months.
After making a continuous contribution to the EPF for five years, you can also withdraw money for house renovation. This amount can be up to 12 times the monthly salary. If the employee has put in a minimum of three years of service, one can withdraw the amount for the home loan payment. In such a situation, one can withdraw up to 90 per cent of the PF balance.
How to withdraw funds partially from your EPF account for medical treatment
EPF money can be withdrawn at any time to meet the expenses arising out of a medical emergency, such as serious illness, permanent disability due to an accident at work, and closure of company. If an EPF account holder wants to withdraw the entire EPF amount for the treatment, they will have to provide proof of hospitalisation for a month or more.
Comments
Post a Comment