What is the New EPFO Rules 2024

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There aren't major changes announced specifically as "New EPFO Rules 2024", however, here's a quick summary of key EPF withdrawal rules to remember.

1

Interest Rate

The EPF interest rate remains at 8.25%, as decided in the previous financial year (2023-24).

2

Withdrawal Limit

You can withdraw either 75% of your PF balance or 3 months of your basic salary + dearness allowance, whichever is lower.

3

TDS on Withdrawal

Premature withdrawal within 5 years of account opening attracts TDS. It's 10% with PAN and 30% without PAN. 

4

Online Claims

You can claim your PF online for faster processing within 72 hours. Offline claims may take up to 20 days.

5

Unemployment Withdrawal

After 1 month of unemployment, you can withdraw 75% of your EPF corpus, the remaining 25% can be transferred to the account.

6

Tax Exemption

EPF withdrawal is tax-exempt if you've contributed for 5 continuous years.

7

Enhanced NPS Security

A new two-factor Aadhaar authentication secures the National Pension System (NPS) login.