Hi, I would like to have guidance on PF transfer and withdrawal. I worked for a company in Noida for 2 years, and my PF account is dormant now. I worked for another company in Bangalore for 4 years but did not get my PF account transferred. I left the Bangalore company 3 years ago and am currently working outside India.
PF Withdrawal Concerns
Now I want to withdraw my PF balance. I thought that if I transferred my balance from Noida to Bangalore, I could withdraw from Bangalore without TDS. However, my ex-employer in Bangalore is telling me that I cannot transfer my Noida balance to Bangalore now since I am not working for the Bangalore company anymore. I don't want to pay heavy TDS.
What are the options available?
Thanks in advance.
From United States, Redwood City
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PF Withdrawal Concerns
Now I want to withdraw my PF balance. I thought that if I transferred my balance from Noida to Bangalore, I could withdraw from Bangalore without TDS. However, my ex-employer in Bangalore is telling me that I cannot transfer my Noida balance to Bangalore now since I am not working for the Bangalore company anymore. I don't want to pay heavy TDS.
What are the options available?
Thanks in advance.
From United States, Redwood City
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According to me, the only option to get income tax exemption is to join a PF applicable service and transfer the EPF from both previous services by submitting separate forms, namely Form 13, to the previous RPFC offices through your present employer.
Regards,
Abbas. P. S
From India, Bangalore
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530Regards,
Abbas. P. S
From India, Bangalore
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Thanks Abbas, I don’t the option of joining any company in India and thus getting both accounts transferred. If I withdraw, will there be TDS? Is TDS a standard practice on PF withdrawal?
From United States, Redwood City
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From United States, Redwood City
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TDS on withdrawal of PF - limit Rs.50000 from 1.6.2016 (1).pdf
Steps to transfer PF amount.jpg