Facing PF Issues at a Startup: Can I Withdraw My Savings Without Extra Taxes?

I have been working in bigger companies for the past 15 years and have accumulated PF savings of Rs. 10 lakhs. This year I was asked to leave my organization due to downsizing, and I had to join a startup company having only 20 employees. The startup where I am currently working does not provide PF. How do I raise a complaint and get the startup to provide PF? If this is not possible, is there a chance I can withdraw my savings of Rs. 10 lakhs without paying additional taxes to the government?

Company not paying PF? You can complain to PF authorities, and action will be quick. But remember, your job will be in danger. Contribution towards an EPF account provides a benefit to individuals by way of a deduction under Section 80C. Refer to https://cleartax.in/s/pf-balance-withdrawal-incometax. Make your decision carefully after reading the term of 5 years of continuous service.

EPF Requirements for Small Companies

If the company has fewer than 20 employees, EPF is not mandatory. If there are 20 or more employees, it is mandatory to register and remit.

Claiming EPF Contributions

If you have served for more than 5 years, you can claim the EPF contribution without any taxes.

Could anyone please let me know how to prepare a challan for contributing PF?