Hr Consultant
+2 Others

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
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.

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

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.

hi sandeep here
i worked in private company and in that my pf amount for claiming final settlement 70000 and i didn't submit my PAN card due to both side different name then i applied for claiming and can i know how much amount it will deduct. excess of 50,000 or overall 70000, let me know it

This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™