one of our employee aged 53 is he eligible to withdraw 90% value of PF accumulations more
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He is not eligible. Mr Viswanathan one should not raise such querries, all these details are avilable in MP & PF Act 1952 more
Jun 02
Please refer Para 68NN of the Employees Provident Fund Scheme 1952 : Withdrawal within one year before retirement .The Commissioner,or,where so authorised by the commissioner ,any officer subordinate to him ,may, on an application from a member in such form as may be prescribed, permit withdrawal of upto 90% of the amount standing at his credit ,at any time after attaining the age of 54 years by the member or within one year before his actual retirement ,or superannuation which ever is later . more
Jun 01
As per latest laid down rules on attaining the age of 54 years an individual can withdraw 90%. more
Jun 01
Basically no. There are some specific ground like medical, dependents marriage or house purchase when one can draw up to 90%. If he fulfills any of the above he may take loan up to ninety.percent based on actual estimate of requirement and accumulation. Sent from my Cyanogen phone more
Jun 01
