PF Withdrawl - Pf Withdrawal [Thread 442901]

Hello,
I would like to know the rules of PF Withdrawl.
Details majorly needed are_
1. How old should be the PF account for the withdrawl?
2. PF withdrawl amount is taxable or non-taxable?
3. If taxable, how much is the tax deduction percentage?
4. How much is the percentage interest on the PF Amount?
Thanks in advance.
Regards,
Asna.....

Dear Asna,
you can withdraw the pf amount after 2month from your date of resignation. if you want to withdraw you should fill form 19 & 10C along with cancilation cheque of withdrawal member.
if you worked for atleast 6months then you can withdraw 24%(12%+12%) of your accumulated amount,
other wise you will get 15.67% only.
PF amount is not taxable
PF intrest would be anounced by PF authorities at the end of the PF financial year. presently the intrest rate would be 8.25%.

Dear Sriharsha,
Thank you for sharing the information with us.
I heard, to withdraw the PF amount, the PF account should be atleast 5yr old.
And,
If we tend to withdraw the PF amount before 5yrs, some percentage of tax is applicable.
Is this statement correct?
Regards,
Asna.....

I understand that P.F amount withdrawn after 5 years is not taxable but taxable, if withdrawn before 5 years.Other memebers may confirm this.
B.Saikumar
HR & Labour Law advisor
Mumbai