Sumitk.saxena
Service/manager-hr
Jai Bakshi
Handled Almost Entire Gamut Of Hr/ir.
MANOKAVIN
Manager Hr & Admin
Malikjs
Gm (hr)
Kumargourav08
Recruitment, Employee Engagement, Statutory
Moumita
Human Resource Officer
+1 Other

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Hi, I have left my previous organization a couple of months back, and now i want to withdraw my PF accumulation from there. Can someone please tell me, what % of tax will be deducted in case i want to withdraw the amount?
Also, which one is a better option, withdrawal of the amount or transfer of the amount?
Regards
Mou

From India
dear it will be counted in your income ,if you will to your employer and tax will be deducted accordingly .better to withdraw it transfer is very lengthy procedure. tks js malik
From India, Delhi
Dear Moumita,

As per my understanding the withdrawal of PF with not taxable. If you are filing the individual ITR, then you need to show that the money came from your PF withdrawal.

For your second question, it better to get the PF transferred although it is a lengthy process.

Please find the attached document, it contain complete information on EPF and EPS.

Hope it will help you to understand the process. For any further clarification / assistants, please feel free to contact under sign.

Thanks & Regards
Kumar Gourav

From India

Attached Files
File Type: doc Process flow of Nomination.doc (43.5 KB, 275 views)

dear moumita, u did not tell us what is ur age and how long u work in org. but i suggest that u must transfer the pf to ur new org. it gives to lot of benifits after retairment. jai bakshi
From India, Delhi
no tax deduction on pf accumulation transfer of accumulation is better option rather to withdraw. sumitk.saxena, 9899669071, 0120-4131277
From India, Ghaziabad
Dear Mou There will not be any tax while withdrawing PF amount. It is better to transfer the amount. You will get Pension facility after completing 10 years. MANOKAVIN
From India, Coimbatore
Dear Moumita,
I don't think, the money accrued in pf is taxable. It should be tax free only.
For transfer or withdraw, it is advisible to transfer. But depending on your money requirement, you may withdraw it. That you alone should decide.
regards,
Uniquenaga

From India, Madras
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