look news india
New Delhi. As soon as a person starts working, a part of his salary starts getting deposited in his PF account. If this money is invested for a long time, it is returned with interest on retirement.
However, sometimes a person may need his money even before retirement. In such a situation, the Employee Provident Fund can be withdrawn only under certain conditions-
As per the rules, Employees Provident Fund can be withdrawn in three situations-
If you complete the age of 58 years then you get your money back along with interest.
In any case, if a working person becomes unemployed then he can get money if he remains unemployed for two months.
If a working person dies before the retirement age, this amount can be recovered.
Apart from these situations, a person can withdraw PF money for some of his major needs. However, some rules have been made for this too.
You can withdraw PF money for marriage
According to the rules of the Employees Provident Fund Organization, any salaried person can withdraw this money for marriage in the family. However, it is important to keep some things in mind for this. PF money can be withdrawn for marriage with some conditions.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How much PF money can be withdrawn?
A salaried person cannot withdraw the entire PF amount for marriage. One can withdraw only 50% of the employee contribution along with interest from PF.
For whose marriage can I withdraw PF money?
A person can withdraw PF money for his marriage expenses. However, if there is a marriage in the person's family, then money can also be withdrawn for the marriage of siblings or children.