Recent reports suggest that the Employees Provident Fund Organisation (EPFO) is planning a series of steps, or should I say missteps, to stem the tide of premature withdrawals from the fund. At present, subscribers are allowed to withdraw their full provident fund savings after two months of quitting their jobs.
Partial withdrawals are allowed in the case of factory closure, marriage, higher education of children or for medical needs. However, it seems the EPF authorities feel that large numbers of premature withdrawals are adversely impacting the social security of the member and ...
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