<ul data-eligibleForWebStory="true"><li>EPF scheme offers a partial withdrawal facility for emergencies or events like weddings, but one should consider factors before depleting retirement savings.</li><li>Employees' Provident Fund (EPF) scheme is crucial for private sector employees for retirement savings security.</li><li>EPF scheme is a reliable investment tool offering secure returns, aiding in building a retirement corpus fund.</li><li>EPF interest rate is currently at 8.25% per annum, reviewed and fixed periodically by the government.</li><li>Financial experts caution against frequent EPF withdrawals to prevent depleting long-term savings and reduce returns due to compounding effects.</li><li>Withdrawals from EPF attract taxes if done before five years of continuous service, leading to TDS if not compliant with EPFO norms.</li><li>Considering alternatives to EPF advance withdrawals, employees can explore options like personal loans, borrowing from friends or family, emergency funds, salary advances, or credit cards for short-term financing needs.</li></ul>

EPF Advance: Try These Alternatives Before Withdrawing Your Retirement Savings

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