If your employer has a scheme of providing Superannuation benefits through another fund management company, the employer will pay its share of 10-15%, depending on the employee's salary. At the time of superannuation, the employee is eligible to withdraw 25% of the available balance, which is tax-free. The remaining percentage will be distributed by the agency and paid to the member on a monthly, quarterly, or yearly basis as chosen by the employee. This amount is taxable. If the employee wishes to avail 100% eligibility, prior consent must be obtained from the Income Tax department.
Thank you.