You will be able to withdraw money from PF account for marriage and house only after one year, this rule has changed

PF Rules: All the employed people in the country. Almost everyone has a PF account. Every month a part of the salary is deposited in this fund so that it can be used when needed. Till now people used to withdraw money from their PF account shortly after leaving the job. When there is a wedding or construction of a house or you need money for any important expense.

But now the employees will have to wait a little. The rules for PF withdrawal have been changed by the government and EPFO. This change will affect millions of employees who use provident fund as an emergency fund. Know the new rules.

Earlier, PF money could be withdrawn like this

According to the earlier rules, if an employee left the job, he could withdraw the entire money from his PF account after two months. This rule was for those who had not joined any new job. Many people used this money for personal purposes like marriage, building a house or repaying loans.

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EPFO had also given permission for early withdrawal in such cases with certain conditions. This means that the employee could withdraw his PF balance 60 days after leaving the job. This process could be done both online and offline and usually the money was credited to the account within a week.

Now what is the change in the new rule?

According to the new rules in PF accounts, now after leaving the job, the employee will be able to withdraw money from the PF account only after one year for marriage, construction of house or any personal need. This means that now you will have to wait not for 2 months but for 12 months. EPFO believes that this step will give people the habit of saving for the future and will help in using the funds for the right purpose.

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However, in cases like emergency medical need or permanent disability, the facility of immediate withdrawal will remain as before. The purpose of this change is to maintain the PF account as a long-term security. So that the employee is left with sufficient amount at the time of retirement.

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