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EPFO advices members against fully withdrawing funds

EPFO

Chandigarh: The Employees’ Provident Fund Organisation (EPFO) on Tuesday advised subscribers not to completely withdraw funds for petty reasons, saying they will lose out on the social security benefits that come only when continuity is maintained.

EPFO further said that PF money aimed at social security benefit and people should not treat it like a bank account.

“We want to convey all our members not to be tempted to make final withdrawals from their Provident Fund balances unless and until it is really necessary. They should continue to live with the fund until they retire from service that is our primary objective”, said V Ranganath, Additional Commissioner, Central PF Commissioner, Punjab and Himachal Pradesh at a press conference here.

EPFO’s objective was to make people aware about all its initiatives, especially in the introduction of new facilities and schemes such as Pradhan Mantri Rozgar Yojana for the employer and the housing scheme for the employees, which has really made it easy for people to dip into their funds to avail loan facility in an easy manner.

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