EPFO: The Provident Fund, a social security program managed by EPFO, establishes a retirement fund that provides financial assistance during emergencies. The PF account also provides you with the option of partial withdrawal. By means of this, you can take out funds from the deposited money for various reasons. For instance, if you need to settle the loan amount, you can also take out funds from PF for this purpose.
However, various kinds of regulations have also been established concerning this. This also encompasses the number of times you can take out money and the reasons for doing so. If you wish to withdraw money from your PF, you should be aware of certain conditions.
If you’re getting married and need to take out money multiple times, is it possible to withdraw funds?
PF subscribers can also request a partial withdrawal after fulfilling a certain period. For instance, if you aim to construct a house using EPFO funds, settle a loan, cover treatment for specific illnesses, or finance a family member’s wedding, you can make a partial withdrawal. In addition to this, you can withdraw funds for various other purposes. For your information, we would like to inform you that although EPFO provides the option of partial withdrawal for various reasons, there are also several conditions associated with it.
For a variety of reasons, you are permitted to extract funds just a single time. However, in certain situations, you have the option to withdraw funds multiple times. In other words, you can take out money multiple times for the same task.
Partial withdrawals
If you wish to take out money from your PF for the wedding of a brother-sister or son-daughter, you are allowed to make partial withdrawals up to three times. However, you may only withdraw funds after your PF account has been active for 7 years.