Good News for PF Account Holders: Government Announces New Benefits

New Delhi (The Uttam Hindu) : The Government of India has made changes in the rules of the Employees' Provident Fund. In the new EPF rules, the time limit for withdrawal of money has also been reduced. It will now be easier for first-time home buyers to withdraw PF money. Under Para 68-PD of the EPF scheme, EPFO members will now be able to withdraw up to 90 percent of the money from their PF account. However, this amount can be withdrawn only on the condition of buying a new house, construction work or paying home installments.

Earlier, the money could be withdrawn only after 5 years of opening the PF account, but now it has been reduced to 3 years. Earlier, PF could be withdrawn only for 36 months to buy a house, but now this has also been changed to 90 percent. From June 2025, in case of an emergency, up to Rs 1 lakh can be withdrawn from the PF account through UPI and ATM. The auto settlement limit of PF was earlier only up to Rs 1 lakh, which has been increased to Rs 5 lakh.

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