New Delhi, Sept. 27 -- Indian retirement fund statutory body, the Employees Provident Fund Organisation (EPFO), has issued a word of caution for people who intend to spend their provident fund savings for reasons not mentioned in the government body's rules and regulations.

So, before tapping into their life's savings, EPF account holders should be aware of the rules and regulations and the charges that a premature withdrawal attracts under specific conditions.

A premature withdrawal from EPFO is the process of pulling out funds from your Employee Provident Fund (EPF) accounts before an individual's retirement, as a form of an advance, which can be either in full or partial portions.

As per the official data, any premature withdrawal f...