The entire fund accumulated in member's account is refundable to them on termination of their job by any reason whatsoever. However, the members are entitled to receive a fixed rate of interest of their PF deposit until withdrawal or for a period of six years even after their retirement. If the member dies before the withdrawal of his/her PF deposit, the same is refunded to his/her nominee or the legal hire.
Till the Sixth amendment of Employees Provident Fund Act in 1991, there was no any provision of the partial withdrawal facility before the termination of their job. The provision of partial withdrawal facility up to 90 percent of the PF deposit depending upon the age of members was introduced in February 1991 by the Sixth amendment of Employees Provision Fund Act.
This provision was revised in April 1992 putting the limit of partial withdrawal at 60 percent of the PF deposit. Members with a minimum of five year's regular contribution in the PF account were eligible for the partial withdrawal in an interval of two years. The legislation of Income Tax Act 2058 in February 2001 put forward the concept of EPF as an "Approved Retirement Fund" and accordingly barred the withdrawal facility of PF deposit by members before the termination of their Jobs. After the enactment of this act EPF has withdrawn the partial withdrawal facility to its members.