My continuous service to my last employer was for 15 years before I retired .Out of this 15 years ,I was under the company’s PF Trust for 10 years 8 months and then rest of the 4 Years 4 months (less than 5 Years) under the EPFO .Moving to EPFO was a decision of the employer. The exemption of the PF Trust was said to be cancelled but the PF accumulation with the PF Trust was not transferred to EPFO when a new EPF account for all the employees were opened with EPFO.
Earlier the pension contribution during PF Trust period was not deposited with EPFO as I do not have any deposit slip for this while I am not aware of the employer’s other non-compliance with Income Tax,EPFO ,Ministry of Labor etc ,other than not submitting returns /reports with EPFO,issue annual accounts slip etc.
Now the employer has however transferred me the PF Trust accumulation with interest -after more than 3 years of its closure.
My questions are :
- Am I eligible for the Income Tax exemption on the withdrawal of EPF (for less than 5 years) on the final settlement with EPFO as my continuous service to the same employer -under same name and style- was for 15 years ,and under what section of the PF rules if so ?
- What are the roles the employer and me have to play here in order to be eligible for the Income Tax exemption if EPFO does not consider me eligible for this ?
- Am I eligible for the pension although the employer did not deposit the pension contribution with EPFO during the PF Trust period for 10 years 8 months?