EPFO may curb premature PF withdrawals

New Delhi, Jan 23: Employees' Provident Fund Organisation (EPFO) is planning to hold at least 10 per cent of a subscriber's money until he/she turns 50 years. The retirement fund body is considering this measure in order to discourage premature withdrawals of the entire amount in EPF account by subscribers before they reach the age of superannuation. In this connection, EPFO held a review meeting recently, where its Central Provident Fund Commissioner K K Jalan is said to have proposed a measure to discourage complete PF withdrawals.