After protests, government scraps tough rules on PF withdrawl

The government was forced to allow unhindered withdrawals from employee provident fund accounts till end of July after protests against the restrictions erupted in Bangaluru.
In February, the government had decided against allowing withdrawal of employer’s contribution to an EPFO account until the subscriber turned 58.
The decision to roll back the restriction to withdraw the full PF amount before the age of 58 is the second major U-Turn by the BJP-government on the PF issue in the last two months. Earlier, this government had to withdraw a budget proposal to tax 60 per cent of EPF savings following mass protests.