EPF Advance, Partial Withdrawal Rules: How Much You Can Withdraw

11 November, 2017 3:20 AM

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EPF Advance, Partial Withdrawal Rules: How Much You Can Withdraw

For some special purposes like lockout/closure of establishment for more than 15 days and employees are rendered unemployed without compensation or if an employee has not received wages for more than 2 months continuously (for reasons other than strike), EPFO gives advance to its members. An employee can withdraw his own contribution along with accumulated interest on that amount for this purpose. There is no specific membership period required for this advance. A certificate from employer is required for this purpose.

After 54 years of age and within one year of retirement/superannuation, whichever is later, an EPFO member can withdraw up to 90 per cent of his EPF accumulation as partial withdrawal before retirement.

Source: ndtv.com

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