Can Retirees Withdraw Their Full PF Amount Immediately Without Waiting Two Months?

Dear Sir,

An employee after attaining the age of retirement wants to withdraw his full PF amount with immediate effect. Is there any rule to withdraw the amount with immediate effect and not to wait for two months after retirement from the establishment.

Akhilesh Tripathi

I retired from a nationalized bank on 31.03.2009. I was paid my and the bank's contribution to PF on 09.04.2009. Is PF withdrawn on retirement taxable or free from income tax? Please quote the relevant income tax section/rule.

Mr. Arun is correct. There is no waiting period of two months for employees who attain superannuation. It is even possible to hand over the PF cheque on the date of superannuation. There are provisions, and we can submit all the relevant documents well in advance to the PF authorities and settle the PF dues on the date of retirement.

Regards,
Kalyan R
AGM - Personnel
Sundram Fasteners Ltd
Madurai
[Phone Number Removed For Privacy Reasons]