Hi, I have been employed with my company for 8 years. Initially, we did not have a PF account, but in July 2011, the company started the PF account system. I will be leaving the company in January 2015 and moving to the USA.
EPF Withdrawal and Tax Implications
Now, as per PF rules, if I withdraw my EPF amount, it would be taxable. However, if I do not withdraw and leave the account as it is, would the time from January 2015 onwards be counted in the total 5-year period after which the amount becomes non-taxable? What is suggested in this case: to withdraw it or to keep the amount untouched for the next few years?
Regards
From India, Delhi
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EPF Withdrawal and Tax Implications
Now, as per PF rules, if I withdraw my EPF amount, it would be taxable. However, if I do not withdraw and leave the account as it is, would the time from January 2015 onwards be counted in the total 5-year period after which the amount becomes non-taxable? What is suggested in this case: to withdraw it or to keep the amount untouched for the next few years?
Regards
From India, Delhi
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Dear Mr.Abhilash, You will get interest for three years even after cessation of service in PF. Hence it is better to withdraw PF later, but on or before completion of three years. Abbas.P.S
From India, Bangalore
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530From India, Bangalore
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