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
The EPF interest rate remains at 8.25%, as decided in the previous financial year (2023-24).
2
You can withdraw either 75% of your PF balance or 3 months of your basic salary + dearness allowance, whichever is lower.
3
Premature withdrawal within 5 years of account opening attracts TDS. It's 10% with PAN and 30% without PAN.
4
You can claim your PF online for faster processing within 72 hours. Offline claims may take up to 20 days.
5
After 1 month of unemployment, you can withdraw 75% of your EPF corpus, the remaining 25% can be transferred to the account.
6
EPF withdrawal is tax-exempt if you've contributed for 5 continuous years.
7
A new two-factor Aadhaar authentication secures the National Pension System (NPS) login.