You can now withdraw PF amount, but terms and conditions apply

In a big relief to the salaried section of the society, the labour ministry said employees can withdraw the Provident Fund (PF) amount but under certain circumstances.

Labour Minister Bandaru Dattatreya had received many letters from the trade unions regarding non-withdrawal of PF.

READ MORE: Hurry up! 15 more days and you won't be able to withdraw your full EPF until you turn 58

Following the representations, the ministry said PF withdrawal is now allowed for housing, major medical treatment for self and family members, marriage and education of children.

The new regulations will come into effect from August.

In February, the ministry had said people would not be able to withdraw PF money before 58 years of age.

(Image: Indiatimes)