I worked for the last 4 years at my previous company. I have now moved to a new company and location (1 month ago). I have filled and submitted the PF withdrawal form to my previous company's HR.
Tax Implications of PF Withdrawal
Recently, I learned that withdrawing the PF amount within 5 years is taxable. Please let me know how much percentage they will deduct from my PF, or if there is any other option to cancel the withdrawal or how to proceed to get a tax exemption.
Regards,
Palanivel
From India, Chennai
Tax Implications of PF Withdrawal
Recently, I learned that withdrawing the PF amount within 5 years is taxable. Please let me know how much percentage they will deduct from my PF, or if there is any other option to cancel the withdrawal or how to proceed to get a tax exemption.
Regards,
Palanivel
From India, Chennai
Partial withdrawal of PF is taxable. Within 2 months of leaving the service, you cannot apply for withdrawal. You can apply for PF withdrawal after 2 months. One of the members on this forum stated that PF accrual from previous employment cannot be withdrawn even after 2 months of joining a new employer and can only be transferred.
Regards,
Madhusudan
From India, Vijayawada
Regards,
Madhusudan
From India, Vijayawada
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