It is important to plan your finances well. It is very crucial to have the right kind of financial aid at every stage of your life. While you might take care of the career path, planning kids’ education and other family responsibilities; planning for your retirement is equally crucial.

There are many investment schemes one can consider to plan for their retirement. However, the Employee Provident Fund (EPF) is one such retirement scheme that is the most neglected. It is one of the crucial benefits for any salaried individual in a private sector. In this particular article, we have discussed different significant aspects revolving around EPF, new PF withdrawal rules and UAN.
EPF is a fund wherein both the employee and the employer contribute an equal amount of money to be accumulated. This money is later handed over to the employee on their retirement or either discontinuation of their service with companies. The biggest benefit of this fund is that one doesn’t have to take any additional efforts to maintain it.
A definite amount of money every month is involuntarily deducted from the employee’s account. Also, now the Employee Provident Fund Organization has revised the withdrawal rules of PF. Wherein, an individual can now withdraw the EPF money under some circumstances. However, in the article, we have also tried to compare the benefits of withdrawing the EPF amount against transferring it.
It is suggested not to withdraw the money from an EPF account until there is a crucial emergency that demands it.