Is Provident Fund Taxable?

Dear Sir,
I want to know that is there any provision to deduct Income tax on withdrawl of PF. Is PF amount taxable? If yes at what %age?
My previous employer has deudcted (Rs.16547) as Income tax on my PF amount of Rs.157116 i.e @ 10.50%
Pls. make it clear to me as I am in confusion for that.
Pls. revert back with correct information.

Dear Gupta,
Normally PF is retained by Provident Office, not by Employer unless an employer has an approaval from PF authories for their own PF scheme/Trust. It is also withdran from PF office. Employers simply deduct from employees' salary and deposit it thru challan. To the best of my knowledge it is not taxable if withdrawn thru Pf office.
Regards,
Baba Naresh

double taxation is not applicable . what you deposit in terms of PF govt use it for infrastructure development.
This is why insurance too in non taxable.
Your employer do not have any right to deduct TAX on PF.
PF is 100% exempt from Tax as far as I know.

If if you are withdrawing your PF, withdrawal is not taxable only if a person has been in continuos service for 5 years or else it is taxable as per prevailing IT rules.

Dear Viloknandan,
Kindly high light more focus under which rule/section of PF it is taxable or speaks ?
Regards,
Baba Naresh

please guide me taxfree salary componet .that will be good for employee.
provident fund is taxble or not.
kalyani

the name of other allownces is tax free or not
please guide on urgent basis.
thanks
klayani

Dear All
As per sec 192A with effect from 01/06/2015 if EPF withdraw before the 5 year TDS
Shall be applicable @10% however if EPF
Amout is less then 30000/- then No TDS
Shall be deducted by EPFO. Employee may
Submited the Form 15G/15H to EPFO provided that Total income of employee
Included EPF withdraw Amout is Not chargable
To tax Then No TDS shalll be deducted.
With effect from 1/6/2016 the ceiling limit
of section 192A has been extend from 30000 to 50000 hence Employee can enjoy
the EPF withdraw upto 50000 with out TDS deduction
Even if service period is less then 5 year?
Thanks & Regards
V Shakya
HR & Labour Law Advisor

V Shakya
HR & Labour Law Advisor
thanks for right information.
ramesh lawande
gulnar plastics

What is the retirement age as per EPFO? On reaching 55 years and leaving service, can a person withdraw the entire PF amount.