Greetings for the day,
1) As stated by you that EPF accumulation withdrawn is subject to taxable , i will quote that no tax liability is on withdrawn of epf/eps accumulation.
2) You quoted that right now you are consultant and you don't have any active EPF account, no problem if you want to withdraw the same you have to go the following process which will also solve your query for tractability :
a) Fill Form 19 & 10C for establishment whose EPF/EPS accumulation with the RPFC duly attested by the competent authority of that establishment & submit the same to related RPFC.
b) For those whose EPF accumulation is with the trust you contact with the establishment with your bank A/C no. & for EPS accumulation you have to fill only for 10C for EPS accumulation withdrawn.
The form are enclosing for the reference.
Thanks & Regards,
Sumit Kumar Saxena
3rd September 2014 From India, Ghaziabad
Thanks for your message. I did not quite understand your first point though.
I have tried same steps you mentioned for withdrawal of pf.
The company that has account with RPFC says I need to add the amount I get after withdrawal to my annual income, and pay tax according to what ever slab it comes to. However the other company which has its own trust is not yet very clear on how they want to go about it, but looks like they want to go through older form16s, then change the taxable income and all that.. i am not sure if they want to do a TDS of the tax amount they arrive at....
That is why i am still trying to find out if there is a way i can some how get pf from all these accounts to one single account.
3rd September 2014 From India, Bangalore