PF Withdrawal Rule: Money is suddenly needed. Funds are deposited in the PF account. Know how much money can be withdrawn from the PF account in a year.
All the employed people in India have PF accounts. PF accounts are managed by the EPFO institute under the Ministry of Labor and Employment of the Government of India.
PF account is a good saving scheme for the future. Every month 12% of the employee’s salary is contributed. The same contribution is made by the employer.
A good amount of interest is also given by the government on PF accounts. With its help, you can save a good fund for the future.
So along with this, withdrawals can also be made from PF accounts at the time of need. EPFO has made some rules regarding this. Under the rules, you can withdraw this much money from the PF account in a year.
In case of need, you can withdraw up to 50% of the amount present in your PF account for some purposes. However, for this, your service should be 7 years.
If you want to buy a house, you can withdraw up to 90% of the balance of your PF account. But for that, 5 years of service is a must.
So along with this, in case of medical emergency, you can withdraw the entire contribution made in the account and the interest earned on it. Along with this, you can withdraw up to 6 times your monthly salary.
