In order to address the issues the amendment stated above was carried out with the consent of Trade Unions and with the intention of promoting a decent accumulation of provident fund for the members at the end of their working lifetimes.
However, considering the representations received from various quarters and after consultations with the various stakeholders, Minister of State (IC) Labour and Employment, Sh Bandaru Dattatreya announced that the government has decided to withdraw the said 10th February 2016 Notification with immediate effect.
Accordingly, the workers are now allowed to withdraw the entire amount from the provident fund as per existing provisions of the EPF Scheme 1952 including the employers share of 3.67%.
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