There are many units under the Government of India which work in different ways. One of them is the Employees Provident Fund Organization i.e. EPFO. Actually, this unit works for those people who are employed. In this, PF accounts of employed people are opened, after which every month a fixed amount is deducted from the account holder's salary and deposited in the employee's PF account. The company also deposits the same amount in the employee's PF account and EPFO also gives annual interest on it. At the same time, you can withdraw this deposited money even in the middle of the job, but do you know how much money you can withdraw from your PF account? Probably not, so let's know. You can know more about this...
You can withdraw this much money, know the rules:-
Up to 50 percent
If you also have a PF account and you want to withdraw money in between your job, then you can withdraw up to 50 percent of the total amount present in your account for some work. For this, it is only necessary that you have completed 7 years of employment.
Up to 90 percent
The PF deducted from your salary is deposited in your PF account. In such a situation, if you want to buy a house, then for this you can withdraw up to 90 percent of the total amount deposited in your PF account. The only condition for this is that you have been in service for 5 years.
Up to 6 times
Though the money deposited in the PF account can get good returns if withdrawn only after the job, but if you have a medical emergency, then also you can withdraw this money. In such a situation, you can withdraw the entire money deposited in your account and the interest received on it. Also, you can withdraw up to 6 times your monthly salary.
Apart from all this, you should also know that earlier you could withdraw up to Rs 50,000 as advance from your PF account, but some time ago the government changed this rule and now this limit has been increased to Rs 1 lakh. In such a situation, you can withdraw this much money from your PF account in an emergency.
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