Daijiworld Media Network – New Delhi

New Delhi, Oct 16: Union Minister Mansukh Mandaviya clarified that EPF members can immediately withdraw up to 75% of their Provident Fund balance in case of job loss.

The remaining 25%, designated as the mandatory minimum balance, can be withdrawn after completing one year of unemployment.

The government recently announced reforms to simplify and liberalise partial EPF withdrawals. The new rules merge 13 complex provisions into three categories — Essential Needs, Housing Needs, and Special Circumstances.

Withdrawal limits for education and marriage have been increased, the minimum service period has been reduced to 12 months, and claims are now settled automatically.

The 25% minimum balance is held for one year to support members in case they find a new job. Full withdrawal of the entire EPF balance, including the 25%, is permitted under certain conditions such as retirement at 55, permanent disability, retrenchment, voluntary retirement, or leaving India permanently. Simplified provisions also allow full withdrawal after 12 months of continuous unemployment.