Abbasiti
Assistant Engineer, Indian Telephone Industries,
Mail8013
Hr Consultant
Bssiraj
Hr Executive
Chauhan4242
Civil Engineer

Thread Started by #chauhan4242

KINDLY CLARIFY MY FOLLOWING QUERY-
I worked for a company ‘A’ from April 2010 to March 2012 where I have a PF account
I worked for a company ‘B’ from April 2012 to March 2013 where I have a PF account
I worked for a company ‘C’ from April 2013 to March 2014 where I have a PF account
I worked for a company ‘D’ from April 2014 to May 2015 where I have a PF account
Thereafter, I am without any job.
I got my PF transferred from Company ‘A’, ‘B’, ‘C’ to my last PF account with company ‘D’ where I also have UAN no.
This means I have maintained my PF continuously for a period of +5 years.
Now I need money for renovation of my home.
- Can I withdraw the entire amount from my last PF account. If yes, what is the procedure?
- Do I have to pay any Tax on the amount that is to be withdrawn?
Please help.
Thanks
9th July 2015 From India, Delhi
Hello Chauhan,
I answer your queries straight point-wise.
You cannot withdraw the PF amount from your existing PF account for "renovation/repair of your house" since you have not completed 5 years with your current organization. And even after you become eligible for the same, you can withdraw a maximum amount equivalent to 24 times of your wages only.
Since you are not eligible to withdraw, there is no question of Tax.
Cheers, A.B.
9th July 2015 From India, Mumbai
Dear Chauhan,
Your working duration only for 4 years. But you apply the advance for house renovation is eligible for 5 years of service.
First you can transfer first 3 account in a last PF account number then you can worked in one year of continue service than you have to apply the advance for house renovation.
Otherwise withdraw each account in use form 19 and 10 C.
Siraj/HR
9th July 2015 From India, Kolkata
Dear Mr.Chauhan,
As you are not in service at present, you may apply for both PF withdrawal and withdrawal benefit from pension fund; on completion of two months after relieving from last job. Income Tax will not be attracted to your both withdrawals, as you have completed 5 years in PF.
Abbas.P.S
9th July 2015 From India, Bangalore
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