The Employees’ Provident Fund Organization (EPFO) has shared good news for the EPF account holders with an update that will hold the difference for many now. The employees will now be able to convert the entire Provident Fund (PF) amount to pension under this new rule. Most importantly, this will secure a consistent stream of … Read more
Unspecified conditions: the Employees’ Provident Fund Organisation (EPFO) allows withdrawal to its members on the Provident Fund (PF) balance. Retirement savings through PF are made, but EPFO allows withdrawals in special cases, as described in the next five points. Below are the five conditions under which PF withdrawal is possible: 1. Retirement (On Achieving 58 … Read more
Then just the other day, on 20th October 2023, the EPFO made substantive modifications in all the existing schemes which now certainly go ahead to protect PF account holders. Under this new Employees’ Deposit Linked Insurance (EDLI) insurance scheme, the insured amount has now been extended to become a benefit of ₹ 7 lakh for … Read more