EPFO Post­pones New With­drawal Rule to May1

The Economic Times - - Companies - Naren­dra.Nathan @times­group.com

Mum­bai: The EPFO, which had re­stricted EPF sub­scribers from with­draw­ing em­ploy­ers’ con­tri­bu­tion be­fore com­plet­ing 58 years, has now post­poned im­ple­men­ta­tion of this new rule to May 1, through its new gazette no­ti­fi­ca­tion dated April 1. This post­pone­ment won’t help many EPF sub­scribers, as they are not al­lowed to with­draw from EPF. How­ever, one seg­ment of the EPF sub­scribers can use this small win­dow (i.e. till April 30) pro­vided by EPFO now. This seg­ment in­cludes EPF sub­scribers who have re­tired early, but left the money in EPF it­self. Since the new April 1 cir­cu­lar gives time till April 30, all of them can use this win­dow to re­deem their money from EPF.

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