A post under the subreddit r/IndiaFinance also debunked misleading claims over the EPFO reforms. The post was titled, “EPFO 3.0 Rules Unveiled: What You Can Withdraw After Job Loss – Myths Busted & Timelines Explained.”
One of the myths, highlighted in the post, was that “25% of the employee’s money has been locked and withdrawals have been restricted.” The “fact,” the post clarified, is that “Earlier, there were 13 different categories with numerous conditions under which money used to get locked. These have now been simplified into one uniform provision, making it much easier to withdraw money without any documentation.”
According to the Reddit post, the simplified withdrawal system reduces bureaucracy and allows quicker access to funds. For those who lose their jobs, the changes provide more “breathing room,” said the post, adding, “You don’t lose access completely, you can still take 75%.” The post also added that the 12-month waiting period for full withdrawal encourages better financial planning during this interim.
