Curbs on full PF withdrawal likely; move to create 'social security cover'

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You may be able to partially withdraw your Provident Fund (PF) savings even after losing your job, with the Employees’ Provident Fund Organisation (EPFO) proposing a move to create a ‘social security cover’ for formal sector workers.

Concerned with the high level of PF withdrawals, the EPFO has proposed that its subscribers — working in the private sector and counted as formal workers — be allowed to withdraw 60 per cent of their total savings, according to the proposal. However, legal experts believe the proposal may be embroiled in...Readmore

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