The Employees’ Provident Fund (EPF) serves as a retirement scheme requiring employees and employers to contribute monthly. Withdrawal is permitted under specific circumstances such as retirement, medical emergencies, or home purchase. New rules for EPF withdrawal in 2024 include restrictions on withdrawal during employment and streamlined online processes for partial or pre-retirement withdrawals. Tax exemptions apply after continuous contributions for five years, with TDS deductions varying based on withdrawal amounts. Withdrawal procedures involve KYC verification and online claim initiation through the UAN portal, with documentation required based on the type of withdrawal.
Understanding EPF Withdrawal Rules and Online Process
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