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Dear All,
Please suggest that is it mandatory for an employee to submit his/her PAN card copy while withdrawing the pf amount.
Also, do help to know what forms he has to submit to PF office for his/her pf amount withdrawal.
Regards,
Rajeev
Please suggest that is it mandatory for an employee to submit his/her PAN card copy while withdrawing the pf amount.
Also, do help to know what forms he has to submit to PF office for his/her pf amount withdrawal.
Regards,
Rajeev
if the EPF member contribution is less than FIVE years, then the member has to submit PAN CARD copy and form 15G both, with a cheque copy with IFSC code no and name printed on cheque ( otherwise passbook front page xerox copy)
use form 19 for EPF and 10C for EPS withdrawal
use form 19 for EPF and 10C for EPS withdrawal
If the employee is ready to pay 34% as tax then it is not mandatory ;-)
If the employee is already paying income tax, then he can submit only his PAN card, so that only 10% will deducted as tax.
If the taxable income of the employee is less than Rs. 2.5 Lacs, then he can submit PAN and Form 15G (2 Copies) to avoid tax in PF withdrawal.
All these are applicable only in case, that the PF Service is less than 5 years (Note: includes of all of his previous pf transfer experience) and the expected withdrawal amount is more than Rs. 50,000.
If the employee is already paying income tax, then he can submit only his PAN card, so that only 10% will deducted as tax.
If the taxable income of the employee is less than Rs. 2.5 Lacs, then he can submit PAN and Form 15G (2 Copies) to avoid tax in PF withdrawal.
All these are applicable only in case, that the PF Service is less than 5 years (Note: includes of all of his previous pf transfer experience) and the expected withdrawal amount is more than Rs. 50,000.
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#Listed In: pan card taxable income pf withdrawal eps withdrawal pf transfer income tax pf withdrawl City-India-Chennai Country-India
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