<table style="float: left; width: 100%;"><tbody><tr><td style="text-align: center;"><img src="https://static.gujaratsamachar.com/content_image/content_image_615e0e19-85bd-455c-aa7d-4ad7a59b8b7a.jpeg" data-filename="Untitled-1.jpg" style="width: 100%;"></td></tr><tr><td class="tr-caption" style="display: flex;justify-content: center;scale: 0.8;">Source: IANS</td></tr></tbody></table> According to Union Labour minister Mansukh Mandaviya, Employees’ Provident Fund Organisation (EPFO)&nbsp;members and subscribers can withdraw ₹1 lakh from their PF account instead of the previous limit of ₹50,000. The government has now eased regulations and has hiked the one-time withdrawal limit from PF accounts. The minister said this week that the government aims to enhance EPFO operations and minimise challenges for subscribers.The EPFO has announced to spend ₹13.10 crore for welfare of its 15,529 employees across 145 offices in FY25, which includes ₹74.37 lakh for holiday homes.&nbsp; According to an EPFO circular, ₹2 crore has been allocated as central pool (death relief fund).The budget includes ₹94.25 lakh towards scholarship, whereas ₹1.88 crore towards other activities fund. The welfare fund allocated for OA-medical checkup comprises ₹3.97 crore on employees over age 40 and ₹1.27 crore towards employees who are less than 40 years.Moreover, the organisation has kept ₹1.26 crore on mementos across all offices, ₹29 lakh on cultural meets, and another ₹61 lakh on canteen.EPFO has also announced a new rule under which, when an individual changes jobs, their old Provident Fund (PF) balance will be automatically transferred to the new employer.EPFO added 19.29 lakh net members in June this year, which represents a 7.86% increase over the same month last year.Earlier this month, the Centre approved the Centralised Pension Payments System (CPPS) that will benefit more than 78 lakh people under the Employee Pension Scheme (EPS), which is part of EPFO. EPS pensioners can get pension from any bank, any branch, anywhere in India from January 1, 2025.In the next phase, the government will transition to the Aadhaar-based Payment System (ABPS).(This story was taken from a syndicated feed, and edited only for style by Gujarat Samachar Digital staff) Also read:<a href="https://english.gujaratsamachar.com/news/business/ipo-market-boom-india-held-highest-share-globally-in-first-half-of-2024" target="_blank">IPO market boom: India held highest share globally in first half of 2024</a> <div style="text-align: left;"><a href="https://english.gujaratsamachar.com/news/business/gujarat-sees-significant-rise-in-countrys-gdp-share-in-last-2-decades-eac-pm-paper" target="_blank">﻿Gujarat sees significant rise in country’s GDP share in last 2 decades: EAC-PM paper</a> </div>

The Employees’ Provident Fund Organisation (EPFO) has announced to spend ₹13.10 crore for welfare of its 15,529 employees across 145 offices in FY25, which includes ₹74.37 lakh for holiday homes.

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EPFO relaxes withdrawal rules, expands limit to ₹1 lakh

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