Partially Withdrawal of Employee Provident Fund before retirement.

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This discussion explores the possibility of an employee partially withdrawing from their Employee Provident Fund (EPF) for their daughter's marriage, even with two years left until retirement. While direct withdrawal for marriage isn't explicitly stated as a standalone option, the EPFO does allow for withdrawals up to 90% of the corpus one year before retirement if the employee is 54 or older. It's also mentioned that such a withdrawal might be considered a loan, and checking with the HR department is advised for specific guidance.

Prajakta Potdar

Prajakta Potdar (Querist)

13 December 2021 Respected Sir

Can Employee withdraw partially from his Employee Provident Fund's Account?

on the following condition.

1)Employee's two years service is remaining as on today.
2) the purpose of withdrawal of Provident Fund is marriage of her daughter.
3) Amount to be withdrawn is Rs.3,00,000=00 (Rupee Three Lakhs only)

Please note that employee wants to withdraw from his provident fund's a/c and need not wants loan.

Please guide me.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

13 December 2021 EPFO allows withdrawal of 90% of the EPF corpus 1 year before retirement, provided the person is not less than 54 years old.
Withdrawal for daughter's marriage allowed considering it as loan.

Prajakta Potdar

Prajakta Potdar (Querist)

13 December 2021 If employee's age is 55.5 years and she is going to retire in 2025. Can she is withdraw 3 lakhs from Her employee provident fund?

Prajakta Potdar

Prajakta Potdar (Querist)

13 December 2021 If employee's age is 55.5 years and she is going to retire in 2025. Can she is withdraw 3 lakhs from Her employee provident fund?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

14 December 2021 As a daughter's marriage loan can be taken.
Check it up with your HR department.

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