money from pf for marriage
Employees Provident Fund Organization i.e. EPFO is a very beneficial deal for employees working in the private sector, because it can be used whenever there is a sudden need of money. However, in this the money is deposited only by you but you cannot withdraw all the money as per your wish. There are some rules and regulations for this. Let us tell you in this news how many times and how much money you can withdraw from EPFO for marriage.
Under the new rules of EPFO, withdrawing PF for marriage has now become much easier than before. Now members can withdraw their entire PF amount (employee + employer’s share) i.e. up to 100% for the marriage of themselves or any family member. With this, money can now be withdrawn up to five times for marriage, whereas earlier this limit was only three times. Earlier, to withdraw PF for marriage, minimum 7 years of service was required, but now it has been reduced to 12 months. Similarly, now there is no need to give wedding card or any special document. Just giving a simple declaration form is enough, which makes the process easier.
New rules for withdrawing money
Among the changes that EPFO has made in the rules for withdrawing money from PF, the biggest change is that now you can withdraw the entire amount of your PF fund. The maximum limit for withdrawing money is 5 times. Which used to happen 3 times earlier. Along with this, the biggest change has happened in the year of service. Earlier, separate years of service were fixed for different withdrawals. But now that limit has been reduced to 12 months. Also, if we talk about clearance for marriage, now no marriage card or certificate is necessary, only the declaration form is sufficient.
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