EPFO Members can now withdraw 75% of PF one month after job loss

  • Subscribers of the Employees’ Provident Fund can now withdraw up to three-fourth (75%) of the funds accumulated in their account after being without a job for 30 days. Currently, in the case of unemployment, a subscriber can withdraw his or her funds after two months and close the account.
  • The remaining 25% can be withdrawn after 2 months of being unemployed, and if withdrawn the PF account will be closed.
  • The EPFO is under the administrative control of Ministry of Labour and Employment. The Central Board of Trustees (CBT) is a statutory body constituted by the Central government, and responsible for administering the Employees’ Provident Funds.  The Board operates three schemes – EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI).
  • Central Board of Trustees. Santosh Kumar Gangwar is the chairman of CBT.

Important Questions:

  1. An unemployeed person can withdraw 75% of the funds from EPF after how many months? – 1 month
  2. Who is the chairman of CBT?
  3. How many schemes does CBT operates?