latest amendments in the EPF Scheme say that :
1.Full EPF amount cannot be withdrawn by the member before attaining the Retirement Age. i.e., 58 years.
New Rule : Under para 68 NNNN, the EPF members cannot withdraw full PF amount (both shares) before attaining the age of 58 years. An out-going employee can withdraw only his contributions + interest thereon. The employers portion (i.e., 3.67%) can be withdrawn after attaining the retirement age of 58 years, which is retained with EPFO for continuity of EPF membership.
2.Increase in age limit i.e., 54 to 57 for withdrawal of 90% of PF amount under para 68 NN.
HOWEVER, CHENNAI EPFO has issued circular to stop sending Form 10 & 19 for withdrawal.
My question is - Per rule (1), I can still withdraw my contribution & interest thereon, upon cessation of my employment. Then why the rule 2 ?
HR STALWARTS, pls advise. Can I withdraw my PF now ? & HOW ? Is there any age-barrier or lock in period to be able to do this ?
request reply with citings.
NB
1.Full EPF amount cannot be withdrawn by the member before attaining the Retirement Age. i.e., 58 years.
New Rule : Under para 68 NNNN, the EPF members cannot withdraw full PF amount (both shares) before attaining the age of 58 years. An out-going employee can withdraw only his contributions + interest thereon. The employers portion (i.e., 3.67%) can be withdrawn after attaining the retirement age of 58 years, which is retained with EPFO for continuity of EPF membership.
2.Increase in age limit i.e., 54 to 57 for withdrawal of 90% of PF amount under para 68 NN.
HOWEVER, CHENNAI EPFO has issued circular to stop sending Form 10 & 19 for withdrawal.
My question is - Per rule (1), I can still withdraw my contribution & interest thereon, upon cessation of my employment. Then why the rule 2 ?
HR STALWARTS, pls advise. Can I withdraw my PF now ? & HOW ? Is there any age-barrier or lock in period to be able to do this ?
request reply with citings.
NB