Re: Superannuation Issue - CiteHR
Administration Head
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Can we withdraw 1000% Superannuation fund on leaving company. What is the procedure. thanks and regards Vikash Jaitly
Dear Mr. Vikash Jaitly,
If your employer has this scheme of providing Superannuation benefit through any other Fund management company, the employer will pay its share of 10-15% depending on the salary of the employee. At the time of superannuation the employee is eligible to take 25%of the balance available that is tax free. The rest percentage will be divided by the agency that will be paid to the member a monthly, quaterly or yearly payment as opted by the employee. This amount is taxable. If the employee wants to get the 100% eligibility, it should be consented prior by the Income Tax department to avail the same.

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