Understanding the Rules for Withdrawing from Your Provident Fund
The provident fund or employee provident fund is the biggest safety net for any salaried Indian. Starting in 1952, it covers both the organized sector and the private sector. Most done for retirement, PF funds can be withdrawn before retirement if needed. This is why it is very important that any salaried person does a regular PF balance check before any financial decision. In 2022, the Government of India brought about some changes to the rules regarding withdrawals from provident funds. The change was made keeping in mind the financial situations of many Indians who lost their job during the Coronavirus pandemic. If you want to know more about this change of rule, and other rules regarding PF withdrawal, then this blog is for you. To start with, always remember the PF or EPF account is not like your bank account which allows you to withdraw money easily. PF funds are meant to be your long-term retirement provision. There are mainly three kinds of withdrawals a PF account holder c