I joined a company in 2002, but the subscription to PF started in January 2008. I left the job in May 2011. Can I know when I can withdraw PF so that it is not taxable? I am told if withdrawn within five years of service, it is taxable. But the law also states that five years of subscription to PF - if withdrawn before five years, then it is taxable.
From India, Mumbai
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From India, Mumbai
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Dear friends, for tax exemption, there should be a minimum of 5 years' contribution to PF. As you have only 3 years' contribution, there is no possibility of getting exempted from tax payment. Also, if your account is non-operative for more than 3 years, further interest will not be credited to your account. Hence, you have to withdraw PF on or before April 2014.
Regards,
Abbas.P.S
From India, Bangalore
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530Regards,
Abbas.P.S
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
Provident fund.zip
PROVIDENT FUND.rar