The government said on Monday that any employee not employed for one month can withdraw 75 percent from their own account of provident fund (PF). Labor Minister Santosh Gangwar said in the Lok Sabha that the Central Board of Trustees of the Employees Provident Fund (EPF) had considered the proposal to include paragraph 68HH in the EPF scheme, 1952 in its 222nd meeting on June 26.

He said in the Question Hour that this will enable the member of the EPF who is unemployed for one month, withdrawing 75 percent of the total amount deposited in his PF account. The Minister said that under the EPF scheme, 1952, no member is able to withdraw the entire amount deposited in the name of the fund in the continuous period of two months immediately after the date of application by him, if there is no employee of any establishment. However, the waiting period of two months will not apply in case of women members resigning from the services of the establishment for the purpose of marriage.

The post Individuals unemployed for more than a month can withdraw upto 75% of their PF appeared first on Uttarakhand News Network.



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