EPFO to Dis­saude Pre­ma­ture With­drawals with New Sys­tem

The Economic Times - - Companies & Economy: Pursuit Of Profit -

Re­tire­ment fund body EPFO plans to launch ‘One Em­ployee One EPF Ac­count’ sys­tem on May 1 to dis­suade pre­ma­ture PF with­drawals and en­cour­age state govern­ments to join its pen­sion sys­tem. The de­ci­sion was taken on April 21 in the EPFO’s in­ter­nal meet­ing, a day af­ter af­ter the govern­ment rolled back its de­ci­sion to tighten PF with­drawal norms restrict­ing sub­scribers to with­draw em­ployer’s share of PF con­tri­bu­tions be­fore the age of 58 years.


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