With reference to the Employees' Provident Funds (EPF) Scheme, 2026, consider the following statements: 1. The scheme consolidates EPF partial withdrawals into three broad categories-essential needs, housing needs, and special circumstances. 2. The mandatory provident fund contribution rate of both employer and employee has been increased from 12% to 14%. Which of the statements given above is/are correct? |ForumIAS

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

Explanation:

Statement 1 is correct. The EPF Scheme, 2026 streamlines partial withdrawals into three categories-essential needs, housing needs, and special circumstances.
Statement 2 is incorrect. The mandatory EPF contribution rate continues to be 12% (10% for certain notified establishments); it has not been increased to 14%.

Source- IE