This special report from Business Today TV details significant reforms by the EPFO’s Central Board of Trustees, affecting over 7 crore subscribers. The Central Board of Trustees of EPF organization has announced major steps to benefit over 7 crore subscribers of the scheme. Key changes include merging 13 partial withdrawal categories into three streamlined options for essential needs, housing, and special circumstances. While withdrawal limits for education and marriage have been increased, a new rule locks 25% of the PF balance to safeguard retirement savings. The timeline for full withdrawal after a job loss has been extended from two to twelve months, and final pension withdrawal is now only possible 36 months after retirement. Additionally, a ‘Vishwas Scheme’ has been launched to reduce litigation over penal damages, and pensioners can now get digital life certificates at their doorstep for free via a partnership with the postal department.
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