India, Oct. 14 -- With the new announcement by the union labour ministry, the subscribers of the Employees' Provident Fund (EPF) scheme can now withdraw upto 100% of the funds from their accounts. The Employees' Provident Fund Organisation (EPFO) manages the retirement savings of nearly 70 million salaried workers

The Central Board of Trustees (CBT), the apex decision-making body of EPFO, headed by Labour Minister Mansukh Mandaviya, took several path-breaking decisions during its meeting, news agency PTI reported.

The CBT decided to simplify the partial withdrawals of the EPF scheme by merging 13 complex provisions into a single, streamlined rule categorised into three types, namely, Essential Needs (illness, education, marriage), Housi...