Hi All,
I resigned from my job 2 months back and filled up the EPF withdrawal form along with a blank cheque of my savings account.Presently I am undergoing higher studies.
Can you please answer the following:
1) Will the EPF withdrawal money be directly debited to my savings account or will I get a account payee cheque by post to my specified address.
2)My EPF account was only 3 yrs 4 months old.So if I withdraw the money this year will it be considered taxable income.I am not earning since April this year(for whole financial year),so do I need to declare the amount (1 lakh) in my IT return for this financial year.
3)How long will it take for my EPF withdrawal to be processes.Do I have to follow up with my company or regional EPFO for it ?
Any help is appreciated.
regards
CP
I resigned from my job 2 months back and filled up the EPF withdrawal form along with a blank cheque of my savings account.Presently I am undergoing higher studies.
Can you please answer the following:
1) Will the EPF withdrawal money be directly debited to my savings account or will I get a account payee cheque by post to my specified address.
2)My EPF account was only 3 yrs 4 months old.So if I withdraw the money this year will it be considered taxable income.I am not earning since April this year(for whole financial year),so do I need to declare the amount (1 lakh) in my IT return for this financial year.
3)How long will it take for my EPF withdrawal to be processes.Do I have to follow up with my company or regional EPFO for it ?
Any help is appreciated.
regards
CP