Sir i worked in hyderabad company and got out of it 2 months.Can i withdraw my PF in Bangalore PF office. Do i need to meet my HR for any signatures. Plz help me
sir, i am a central govt. employee. I have taken a housing loan from LIC housing Finance Ltd. for rs. 15,00,000/-. I am currently staying in govt. provided flat. Am I eligible for income tax rebate on the EMI being paid by me?
I worked with my previous employer for 3 yrs and now am working with current employer for 3 yrs. I did not apply for transfer of my PF from previous employer to current employer. How can I get my PF transfered to current employer or withdraw my PF
Re: Do I need to pay Income Tax for PF withdrawal
by ARYAN MAURYA on Jul 27, 2011 04:43 PM
Employee contribution to EPF can be deducted under Section 80 C. Employer’s contribution to EPF is tax free upto an extend of 12%. Any contribution beyond that needs to be added to the income of employee and is taxable. Interest earned on EPF is tax free upto an interest of 9.5%. Any interest earned beyond this is taxable, and should be added to employee’s salary income.
The amount is tax free in case employee leaves job after 5 years of service (For the purpose of computing 5 years period, Period of services rendered with previous employer shall also be included). There is no tax on employee provident withdrawal after a period of 5 years, if its done for following purposes – Marriage, Purchase or renovation of property, or payment of loans taken for the same. In any other case, the entire amount withdrawn from EPF is taxable.
I was working with a company for 8 years and that company was having EPF. I resigned from that company in April 2008. The new company I joined has no PF facility.
I still have not withdrawn the amount from my Provident Fund Account.
I wish to know the following. Please help me :
1. Whether my PF amount will get interest for last two years during which the a/c. was not active as there was no contribution to the PF account.
2. What is the procedure to withdraw the PF amount and Pension amount. Is it the same normal procedure to go through my previous employer ?
I was working with a company for 8 years and that company was having EPF. I resigned from that company in April 2008. The new company I joined has no PF facility.
I still have not withdrawn the amount from my Provident Fund Account.
I wish to know the following. Please help me :
1. Whether my PF amount will get interest for last two years during which the a/c. was not active as there was no contribution to the PF account.
2. What is the procedure to withdraw the PF amount and Pension amount. Is it the same normal procedure to go through my previous employer ?
I was working with a company for 8 years and that company was having EPF. I resigned from that company in April 2008. The new company I joined has no PF facility.
I still have not withdrawn the amount from my Provident Fund Account.
I wish to know the following. Please help me :
1. Whether my PF amount will get interest for last two years during which the a/c. was not active as there was no contribution to the PF account.
2. What is the procedure to withdraw the PF amount and Pension amount. Is it the same normal procedure to go through my previous employer ?
