New Delhi: Provident Fund is one of the most popular savings schemes for the salaried class people. Investing in Employees Provident Fund (EPF) is considered a better option for any employed person . A part of the salary of the salaried class people is deposited in their EPF account. On which the government gives strong interest. The maturity of PF account is 15 years. The money deposited in PF Account provides financial help to EPFO Subscribers in times of difficulty.
Employees’ Provident Fund Organization ie EPFO allows its subscribers (EPFO Subscribers) to prematurely withdraw the money deposited in PF on many occasions. You can withdraw money from PF account (PF Withdrawal) if you lose your job or want to buy a house or yourself or on the occasion of children’s marriage etc.
Recently, by tweeting, EPFO has given detailed information about withdrawing advance money from PF account on the occasion of marriage.
EPFO is giving marriage advance facility
EPFO has said in a tweet that the facility of EPFO Marriage Advance (EPFO Advance For Marriage) can be availed with certain conditions. According to which, if the EPFO subscriber wants to manage the expenses of his marriage or his brother-sister or his son-daughter’s marriage through PF Balance, then EPFO will allow you to take advance for these occasions or from the time of maturity. Provides early withdrawal facility. Under the EPFO marriage advance facility, you can withdraw 50 per cent of your contribution along with interest.
Must meet these conditions
However, there are certain conditions to avail the facility of EPFO Marriage Advance. Only after fulfilling these conditions, an EPFO Subscriber (EPFO Subscribers) can withdraw advance money from the PF account. According to EPFO, if you have been associated with EPFO for seven years, then you will be able to take advantage of this facility. However, you cannot withdraw PF balance in advance more than 3 times in total on the occasion of studies or marriage.
EPF interest rate increased to 8.15% for 2022-23
Let us tell you that in March, EPFO announced to increase the interest rate on Employees Provident Fund (EPF) for 2022-23. According to the information, now the interest rate on Employees Provident Fund (EPF Interest Rate 2023) has been increased to 8.15 percent. This interest is given on an annual basis.
