Understanding PF Withdrawal: How Much Will I Get and Is It Taxable?

I was working with an MNC for 9 months. Now it's more than 3 months since my resignation. I have filled Form 19, 10C, and 15G for TDS.

PF Withdrawal Details

1) I would like to know the exact amount I will receive if my PF deposit description was as follows when I checked on the website:
Employees Share: 3151 Rs
Employer Share: 963 Rs
Pension Contribution: 2159 Rs

2) Is the PF withdrawal amount taxable or non-taxable? If taxable, what is the tax deduction percentage?

3) How much time does it take for the PF to be credited to the bank account after the claim form submission?

Kindly guide me through this.

Regards,
Krishna Gajre
[Email Removed For Privacy Reasons]

Dear Mr. Krishna,

If you were working in an MNC, the HR department would have issued you a UAN (Universal Account Number) which must be activated and linked with your KYC (Know Your Customer) and mobile number, and approved as well.

If yes, then there is no need to worry. Fill out the new Forms 19 and 10C with your PAN ID and deposit them directly with the RPFC (Regional Provident Fund Commissioner) Office without any hesitation and confirmation from your employer. You will receive your amount within 15 days.

Thank you.

First, why do you wish to withdraw the PF amount?

Second, have you stopped working completely? If you are working for any other organization that is covered under the PF act, then you are not allowed to withdraw your PF but you need to transfer it to the new company. With the current UAN system, you don't even need to withdraw it because the new employer will deposit PF in the same account.

Eligibility for PF Withdrawal

If you have stopped working, then you are eligible to withdraw your PF. Mr. Dubey has explained the procedure. There were other posts earlier that have detailed procedures; you can find those in the search option, and you will get all the details you need.

I think all the information is available online. You can log into your PF account on the PF portal and see how much money is there. You will be eligible for interest apart from the money deposited, and since you have worked for less than 10 years, you will get the entire amount, including what is in the pension account. Yes, it is subject to TDS since you have worked for less than the specified period.