Adoni Suguresh
Sr.executive (per & Adm)
+5 Others

Dear All, I worked and changed my organisation very frequently.

First Organisation - 2 years.

Second Organisation- 5 months.

Third Organisation - 18 months.

Now i have joined new organisation(fourth) and still working. I had transfered my PF a/c from first to second and then on to third organisation. I was not able to transfer my PF account to fourth organisation because they run some private trust so they they informed me that your PF cannot be transferred to trust account.

I decided to withdraw my PF, however as per new finance act, if you withdraw pf before 5 years, TDS is deducted. Request you to please suggest if there is any way, wherein i can withdraw my PF without TDS deduction, because its my money, why shall government deduct TDS on same. My total service form 1st organisation to third is more then 4 years, however its less then 5 years. However since i have not withdrawn the PF as yet.


Amit Sharma
13th December 2015 From India, Delhi
""Request you tp please suggest if there is any way, wherein i can withdraw my PF without TDS deduction, because its my money, why shall government deduct TDS on same.""
It is not the question of PF being your money,this is the rule/law on the subject,we have to follow.
Tax exemption is given on PF contribution and if prematurely withdrawn attracts tax.
It all depends on how much money is accumulated and what was your income in that year.
If it is above taxable limit you will have no choice but to pay tax.
13th December 2015 From India, Pune
In addition to above, it is informed that while working in an organisation where provisions of EPF are applicable, amount of PF can not be withdrawn. Further to inform that EPFO transfers the PF amounts to Private PF Trusts alongwith form "K" through which pension details are also mentioned. But pension fund is not transferred as same is controlled by EPFO of the area, even for the Private PF Trusts.
14th December 2015 From India, Panipat
Dear Mr. Sharma,
It seems you posted the thread very casually and with different opinion towards compliances.
There are many clerical and typographical mistakes (I worked chnaged, organisation(fourth), so they they).
Pls be noted this forum is full with Professionals and experienced members. When you start any post it is clearly informed "Be Professional".
Now come to your point, Mr. Natharao has rightly said this is matter of law not any personal choice / view.
Yes, if applicable TDS will be deducted. But as per my opinion, the withdrawal amount will be treated as income for your current financial year. If your income is less than taxable slab you can claim refund through Income Tax Return.
Senior member, please correct me (if required).
15th December 2015 From India, Delhi
Dear Sharma,
Your Claim amount below 30000 you have to submit form 15G alond with PAN Card if your PF claim amount is more than 30000 thousand you have to submit the pf From 15 H along with your PAN card. If you are failed to submit the those forms TDS will be deduct on your Claim amount. Further details please contact me on the Email:
15th December 2015 From India, Bengaluru
Dear Vinay,
Submission of Form 15G can and should be done with care.
One has to see his income for the year.
The year in which you withdraw PF,the amount of withdrawal will get added to taxable income.
Do not blindly submit form 15 G.
It is not just submit form 15G and avoid tax.
15th December 2015 From India, Pune
Hi Sharma, you have not told total sum of pf Amount, if it is below Rs.30,000/- PF department will not deduct TDS , if it is Rs.30,000/- and above TDS will be deducted.
15th December 2015 From India, Bangalore
Even if TDS is not deducted,the amount will be taxable by adding it an income for the financial year.
Just becauseTDS is or is not being deducted does not make the amount excluded from adding to taxable income.
15th December 2015 From India, Pune
As rightly Mr.Nathrao and Mr.Singh said be professional in this forum whenever you raise any query This is the forum where we can share our experience and learn the things not any hypothetical questions or query
Adoni Suguresh
Labour Laws Consultant .,
16th December 2015 From India, Bidar
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