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PF withdrawal norms eased for medical, housing purposes

Speed News Desk | Updated on: 19 April 2016, 13:02 IST

In some relief to common man, the rules regarding the withdrawal of provident fund (PF) were allowed some flexibility on 18 April

The labour ministry has eased the planned restriction on withdrawal of contribution to the employees' provident fund following which PF withdrawal for housing, major medical treatment for the PF holder or family, medical, dental or engineering college fees, and marriage will now be allowed. 

The account holders/employees were earlier restricted from withdrawing their entire PF balance till the age of 58.

During the Union Budget, the Finance Minister Arun Jaitley had announced amendment in the EPF Scheme 1952 which led to tightening of various norms for PF withdrawal.

First published: 19 April 2016, 13:02 IST
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