Yes, VPF can be prematurely withdrawn, subject to specific conditions and tax implications. One can withdraw up to 90% of their VPF balance after they reach 54 years of age or one year before retirement, whichever is later. Partial withdrawals are allowed for specific purposes like marriage, education, medical treatment, house purchase or construction, provided a certain number of years of service have been completed. But if VPF is withdrawn before five years of service, it becomes taxable as mentioned above.