PF Withdrawal Made Simpler: EPFO Eases Rules for Home Buyers

EPFO has revised its PF withdrawal rules. Now, you can withdraw up to 90% of your PF for your first home purchase after just three years of employment. Learn about other changes.

EPFO Rule Changes: If you're planning to buy your first home, this news is for you. The Employees' Provident Fund Organisation (EPFO) has made changes to its PF withdrawal rules. Now, those planning to buy their first home can withdraw a larger sum from their PF account.

How much can you withdraw from your PF account for a home purchase?

Under the new EPF rules, you can withdraw up to 90% of your total PF balance for your first home purchase. Previously, withdrawing such an amount involved several rules and regulations. The old rules required a certain number of years of employment for PF withdrawals under different circumstances. However, changes have been made under Para 68-BD of the EPF Scheme, 1952.

What were the old rules, and what are the new ones?

Previously, you needed at least five years of continuous employment to withdraw PF for a new home. This has now been changed. You can now withdraw up to 90% for a new home after just three years of continuous employment. However, this withdrawal is allowed only once.

How much can you withdraw from your PF account if you lose your job?

Under EPF rules, if you lose your job, you can withdraw 75% of your total PF balance one month after your job loss. If you remain unemployed for more than two months, you can withdraw the entire amount.

How much can you withdraw from your PF account for marriage expenses?

If you need funds for the marriage of your son, daughter, brother, or sister, you can withdraw an advance from your PF account. You can withdraw up to 50% of your total PF balance. However, you must have at least seven years of employment. Note that you can withdraw an advance for marriage or education a maximum of three times.