EPFO PF withdrawal rules 2025: For now, one can safely say that those who work in India have the PF account. PF is open to all the people concerned. In India, the PF accounts are operated under the Employee Provided Fund Organization i.e. EPFO. These accounts are also considered a kind of savings scheme.
Every month, 12% of a government employee’s salary goes into this account. The employer also contributes the same amount into this account. In this context, let us know more information as follows.
When To Withdraw Against PF Account
Let it be declared before all of you that definitely you may withdraw against the PF account whenever you need it. Following that, upon 10 years’ contribution to the EPF, you are eligible to receive the pension.
But if you withdraw after the laid time, then it is cut out from your pension. In this context, let us tell you what are the pension rules of the EPFO and how much money will require withdrawal from your end not to earn the pension amount.
PF Will Be Closed If The Entire Amount Is Withdrawn
All these accounts have been established in a way where there is deposit of 12% salary in the accounts of PF account holders by their employers, i.e. the company. In such a case, the company contributes 12%. Only, 8.33% is diverted to the pension fund – EPS of the PF account holder. Apart from this, the remaining – 3.67% – value is directly marked for the PF account.
Thus, it is said that the PF account holder earns pension when he/she contributes to this account for a decade. Now if he is irrelevant and stops from the account or due to any other reason, it also has to be said that if he withdraws the whole amount of the PF account and somewhere the EPS fund is left intact, he stands pension; otherwise the amount of both, EPS and PF, is taken by him, then he does not enjoy any pension post-retirement.
Eligible PF Account Holders For Pension
And it is very clear that under rules of the EPFO i.e. Employee provident fund organization, an employee has to be depositing money in the PF account for a minimum period of ten years to become eligible for a pension. The same employee can claim for pension after reaching 50 years of age.
Also Read: EPFO Higher Pension Update: 42% Applications Rejected – What’s Next?