How Can HR Professionals Effectively Guide Employees on PF Withdrawal?

Dear Members,

Please find attached a Word file showing the relevant paragraphs for withdrawal of PF accumulated amount of the employee. I believe it will be useful for HR professionals to guide their employees.

Regards,

Rapolu HS

Dear Raghul Singh,

It is a simple Word file and it is very easy to open. However, once again, I am sending the same for your reference.

Regards,

Rapolu HS

Please help me in understanding the PF withdrawal scenario. I left my previous company after working there for 4.7 years. If I withdraw my PF now, will it be taxable, and how will the tax be deducted? Also, if I withdraw the PF after completing 5 years, will it be taxable or not? Please provide an answer to my query.

Hi Harish,

The PF amount is not taxable. If you are working at another company and have PF benefits there, you can transfer the amount. Otherwise, you can withdraw it now.

Cheers,
Jeeva

Scenario:
I have been working with a company for 8 years. I plan to resign and not take up another job for at least 3 months. Following this, I plan on starting my own business and wish to withdraw the PF for this purpose.

Question:
1) Will I be able to withdraw the full 100% of my PF balance along with the pension amount?
2) What kind of documentation will I need to provide to indicate unemployment?
3) How long does it take to receive such funds in the account following the submission of the PF withdrawal form?