PF Withdrawal Rules 2023: EPFO provides partial withdrawal facility, but there are many conditions on it. But in some cases you get the facility to withdraw money more than once.
PF Withdrawal Rules 2023: The social security scheme run by EPFO not only prepares provident fund retirement fund, it can also help you financially in emergency . You get the facility of partial withdrawal on the PF account, so that you can withdraw the amount from the money deposited in it for many purposes.
For example, if you have to pay a loan, you can withdraw money from PF for this. But EPFO enforces many rules regarding partial withdrawal from PF. It also includes how many times you can withdraw money for what reason. If you also need to withdraw money from PF, then you should know its conditions.
For what reasons can pf money be withdrawn? (PF Withdrawal Rules)
PF subscribers become eligible for partial withdrawal after completing a tenure. EPFO allows you to make partial withdrawals for construction of a house, loan repayment, treatment of certain ailments, marriage of yourself or a family member, post-matriculation education of children, and within one year of retirement. Apart from this, also you can withdraw money for some other reasons. You can see its complete list by clicking here.
But can I withdraw more than once for the same reason?
Even though EPFO allows partial withdrawal for many reasons, but there are many conditions on it. You are allowed to make a withdrawal only once for various reasons. But in some cases you get the facility to withdraw money more than once. That is, you can withdraw money more than once for the same purpose.
When can I withdraw money from PF more than once?
If you want to withdraw money for the marriage of yourself, your siblings, your son or daughter, you can make three partial withdrawals for the purpose of marriage. Apart from this, you can also withdraw money thrice for your child’s post-matriculation studies. For this, you are allowed to withdraw 50% of the employee’s share of interest. Also remember that you can withdraw money for these purposes only when your PF account has been open for 7 years. That is, after completion of seven years of PF account, you can withdraw money for them.