By Admin 
Pf withdrawal rules: If you are employed and are planning to buy a house, then there is good news for you. The government has recently changed the rules of PF withdrawal. This has made it easier to withdraw money for salaried employees wishing to buy a house.
Members will get relief from the new rule
According to the new Para 68-BD of EPF Scheme, 1952, now EPFO subscribers can remove their funds up to 90 % of their funds to buy a house 3 years after opening their PF account. This includes down payment, construction and EMI expenses.
Earlier, after five years, members were allowed to withdraw money. To meet the needs of the house before this rule, the calculation of EPFO withdrawal was done in 36 months based on the contribution of both the employer and the employee and whatever was less than the interest found on it. Under the previous rule, a member enrolled under any housing scheme was not allowed to withdraw funds.
What is the purpose of this change?
The purpose of this change is to relax the rules, to reduce the problems faced during the down payment, unlock the doctor saving and provide more facilities to the EPFO members to buy the house. However, this facility of withdrawal will be available only once in life. This is the matter of buying a house, many more important changes have been made to make PF withdrawal easier.
Large changes related to PF withdrawal
- The biggest facility is that from June 2025, EPFO members will be able to withdraw up to Rs 1 lakh immediately through UPI and ATM to fulfill any of their needs during the Emergency.
- The auto settlement limit has been increased from 1 lakh to 5 lakh rupees.
- Claim process has also been made easier. Where earlier claims were investigated on 27 parameters. At the same time, now documents verification will be at only 18 points. Claim settlement is being done in 3-4 days in 95 percent cases.
- The process of extracting PF for these important expenses has now been made much easier than before, which has improved the liquidity of the employees.
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