Govt. relaxes norms for partial PF withdrawal

Employees’ Provident Fund (EPF) members have three more months to withdraw the entire balance in their EPF accounts, if they wish to, as the government has decided to defer new rules restricting PF withdrawals till retirement.

Labour Minister Bandaru Dattatreya responded to the representations of the aggrieved trade unions and soon a fresh notification will be issued to amend the previous one notified in February, Labour Ministry said in a statement. The restrictions will now apply from August 1 instead of May 1.