INCOME TAX29 Sept 2026
EPFO: What is minimum balance? Check rules for early withdrawal, full list of reasons for partial withdrawal here | Mint
EPFO has simplified partial withdrawal rules, merging 13 provisions into three categories: Essential Needs, Housing Needs and Special Circumstances. Members can now take non-refundable advances while still employed for medical, education, marriage, home loan or renovation needs by filing Form 31. Claims usually reach your bank account within seven to fifteen working days, with SMS updates at each stage.
Key Statutory Highlights
- Members can withdraw up to 100% of eligible funds, which works out to 75% of the EPF corpus after setting aside the required minimum balance.
- For medical treatment, you can withdraw the employee share of your EPF or six months' wages after one year of membership.
- For buying a house, you can withdraw up to 90% of your EPF after one year of membership for a property in your or your spouse's name.
Actionable Advice for Taxpayers / Founders:Check which category your reason falls under, keep your Form 31 details and bank records ready, and confirm your minimum balance before applying — approval timelines can vary case to case.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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