PF Rules Changed: Buy Your First Home Faster With 90% Withdrawal Access.

PF Rules Changed: Buy Your First Home Faster With 90% Withdrawal Access;

(As per News Agency) New EPF withdrawal rules allow members to use 90% of their PF savings for buying a home after just 3 years of membership. In a major relief for salaried employees, the government has eased the Employees’ Provident Fund (EPF) withdrawal norms, making it considerably simpler for first-time homebuyers to access their funds. Under the newly introduced Para 68-BD of the EPF Scheme, 1952, EPFO members can now withdraw up to 90% of their PF corpus to purchase, construct, or pay EMIs for a residential property. Notably, the eligibility period has been reduced from five years to just three years from the date of account opening. 🚨 Additional Major Changes to EPF Withdrawals To streamline and accelerate PF withdrawals, the EPFO has announced several key updates: ✅ Instant Withdrawals via UPI and ATM Starting June 2025, members can instantly withdraw up to ₹1 lakh for emergency needs using UPI or ATMs. ✅ Auto-Settlement Limit Raised The automatic claim settlement limit has been increased from ₹1 lakh to ₹5 lakh, reducing manual intervention. ✅ Simplified Claim Process Verification parameters have been reduced from 27 to 18, with 95% of claims now settled within 3–4 days. ✅ Easier Withdrawals for Life Needs Procedures for education, marriage, and medical-related withdrawals have been simplified, providing greater financial liquidity for employees during key life events. These reforms, dubbed “EPFO 3.0”, mark a significant step towards faster, simpler, and more employee-friendly provident fund management.