BUSINESS TAX SOLUTION
PF Withdrawal
According to the new rules, PF account holders can withdraw money equivalent to three months of their basic salary plus dearness allowance or 75% of the net balance in their PF or EPF account, whichever is lower. This will be taken as a non-refundable deposit. These withdrawal claims can be raised online.
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Rules
The Employees’ Provident Fund Organization (EPFO) has revised several of its rules regarding withdrawal from the Provident Fund (PF) account in 2022. The aim of these revisions is to provide easier access to their PF funds to subscribers who are facing financial difficulties due to the coronavirus pandemic.
According to the new rules, PF account holders can withdraw money equivalent to three months of their basic salary plus dearness allowance or 75% of the net balance in their PF or EPF account, whichever is lower. This will be taken as a non-refundable deposit.
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