I need the help on latest changed Provident Fund's rules. I gone through the last 2017 rules, but I don't know the recently changed some new rules and its amendments.
Please help me by sharing the new implementations.
Rules for subscribers of Employees Provident Fund Organization (EPFO) have been changed to make the scheme more user-friendly. At present, the EPF Scheme 1952 allows final withdrawal after 2 months from the date of cessation of employment of the member. A subscriber needs to contribute to his PF account successively for at least 10 years to become eligible for pension but if the account is closed prematurely, the subscriber may not remain eligible for pension. The new rules: Subscribers who resign from their job can now withdraw 75% of their total provident fund kitty after one month from the date of cessation of service to meet their monthly financial commitments. Members will continue to have the choice of withdrawing the entire amount, if they want to close the account, after two months.