News
Government allows PF withdrawal for housing and health
The Labour Ministry on Monday eased the planned restriction on withdrawal of contribution to the employees’ provident fund.
According to a published media report, withdrawal can now be allowed for housing, major medical treatment for self and family members, medical, dental and engineering education of children, and for their marriage.
The report said the relaxation has also been extended to members who have joined an establishment belonging to or under the central or state Government, and become a member of contributory provident fund or old age pension. These norms will come into effect from August.
The amendments were made after Labour Minister Bandaru Dattatreya received representations from trade unions.
A Government release said the ministry had decided to pay the full accumulations to the credit of a member, including interest up to the date of payment, if he or she fulfills any of the above-mentioned conditions. In February, the ministry had said PF subscribers would not be able to withdraw their provident fund after attaining the age of 54 years, and will have to wait till they are 58 years’ old.
-
News3 weeks ago
KW Delhi 6 Mall Onboards New Brands
-
News4 weeks ago
Manasum Senior Living Launches IKIGAI GOA, A Senior Living Community in North Goa, in collaboration with Prescon Homes
-
News2 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
Bridging India Divide: Top 5 Tier- 2 Cities to Focus On
-
News3 weeks ago
Commercial Realty Gets Tech Savvy: Fast Construction, Enhanced Convenience
-
News4 weeks ago
Multipoint Connection – A Definite Boon
-
News3 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News1 week ago
Olive Announces Dhruv Kalro as Co-Founder