Indian government raises EPFO withdrawal limit to ₹1 lakh, enhances financial access for subscribers.
The Indian government has raised the withdrawal limit for the Employees' Provident Fund Organisation (EPFO) accounts from ₹50,000 to ₹1 lakh, enhancing financial access for subscribers. This change includes new digital frameworks to improve EPFO operations and allows withdrawals within six months of employment. The government is also considering increasing the income threshold for mandatory contributions for salaried employees. The EPFO supports over 10 million workers, offering an 8.25% interest rate for FY24.
September 17, 2024
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