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THE EMPLOYEES' PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952

BENEFITS
A) A member of the provident fund can withdraw full amount at the credit in the fund on retirement from service after attaining the age of 55 year. Full amount in provident fund can also be withdraw by the member under the following circumstance:

A member who has not attained the age of 55 year at the time of termination of service.
A member is retired on account of permanent and total disablement due to bodily or mental infirmity.
On migration from India for permanent settlement abroad or for taking employment abroad.
In the case of mass or individual retrenchment.

B) In the case of the following contingencies, the payment of provident fund be made after complementing a continuous period of not less than two months immediately preceding the date on which the application for withdrawal is made by the member:

Where employees of close establishment are transferred to other establishment, which is not covered under the Act:
Where a member is discharged and is given retrenchment compensation under the Industrial Dispute Act, 1947

Employees covered enjoy a benefit of Social Security in the form of an unattachable, unwithdrawable (except in severely restricted circumstances like buying house, marriage/education etc.)
Financial nest egg to which employees and employers contribute equally throughout the covered persons employment. This sum is payable normally on retirement or death.
Other Benefits include Employees' Pension Scheme and Employees' Deposit Linked Insurance Fund.
Advance for Purchase of Dwelling Site.
Advance for Purchase of a Dwelling House/Flat.
Construction of a House.
Repayment of housing loan to state govt. housing board or any other government recognized housing finance body.
Post matriculation education of son/daughter.
Damage to property due to Natural Calamity (Flood,Riot,Earthquake)

Illness viz. Hospitalization for more than a month, major surgical operations or suffering from T.B. leprosy, paralysis, cancer, heart ailment, etc.
marriage of self/daughter/son/sister/brother.
Member affected by cut in the supply of electricity
Member who is physically handicapped A member employee can also withdraw full amount standing to his credit:

Withdrawal before retirement:
A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement on superannuating whichever is later. Claim application in form 19 may be submitted to the concerned Provident Fund Office.
On resignation
On retirement from the service on attaining the age of 58 years.
On retirement on account for permanent or total incapacity to work.
Immediately before migration from India for permanent settlement abroad or taking up employment abroad.
On termination due to voluntary retirement scheme, retrenchment, closure of the factory/establishment.

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