PF Withdrawal Rules: PF money is received after retirement. However, many times a person needs his money for some other big work. In such a situation, PF money also comes in handy. The question is whether permission is given to withdraw PF money for a wedding taking place at home. The answer to this question is yes. However, some conditions have also been kept for this.
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As soon as a person starts working, a part of his salary starts getting added to his PF account. This money is returned with interest on retirement if invested for a long time.
However, sometimes a person may need his money before retirement. In such a situation , the Employee Provident Fund can be withdrawn only under a few conditions-
As per the rules, Employee Provident Fund can be withdrawn in three situations-
- When you complete the age of 58 years, you get your money back with interest.
- In case a working person becomes unemployed then he can get money if he remains unemployed for two months.
- If the employed person dies before the retirement age, this money can be recovered.
Apart from these situations, a person can also withdraw PF money for some of his major needs. However, some rules have been made for this too.
Also Read: Good news: Your entire EPF amount will be withdrawn even if you work for less than six months
You can withdraw PF money for marriage
According to the rules of the Employees’ Provident Fund Organization, a working person can withdraw this money for a wedding at home. However, some things need to be kept in mind for this. PF money can be withdrawn for marriage under certain conditions.
After how much time can you withdraw PF money
To withdraw PF money, it is necessary to complete at least 7 years of service.
How much PF money can you withdraw
A salaried person cannot withdraw all the money from PF for marriage. A person can withdraw only 50% of the employee’s contribution along with interest from PF.
For whose marriage can you withdraw PF money
A person can withdraw PF money for his own wedding expenses. However, if the wedding is in the person’s family, then money can also be withdrawn for the marriage of siblings or children.
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