wxyzsunny
Hi,

Could anyone please clarify my doubts?

1. Can a person withdraw (using Form 19 and 10c) PF multiple times during the course of his employment?
2. I believe if someone withdraws PF amount before the age of retirement, tax will be incurred on the withdrawn PF amount. Is it true? If yes, how much is the tax rate?
3. Can a person have more than one PF account? I believe NO. Right?

From India
prernasingh1985
A person can have only one active PF A/C.
If you are switching from one company to another then either withdraw your PF amount and close the A/C or transfer the PF A/C.
Moreover as far as I think it is not subjected to any tax deduction....
Hope your queries would be solved....

From Japan
Mukta.Sharma
Hi,
The tax rebate on PF is provided for only 1 time i.e if you withdraw ur PF from last company instead of transfer then tax rebate will be given to u but if in future u again withdraw PF of II company then no tax rebate will be given.

From India, Mumbai
wxyzsunny
Thanks Prerna and Mukta.
In case of job switching, I believe I can use Form 19 and 10c to withdraw the PF through the previous employer and can open a new PF account through the new employer (do I need to fill any form in this case??) and get going. I believe I can use the same process again if I am switching my job again. Right?
Please confirm.

From India
prernasingh1985
Yes, u have to fill new PF form with the new employer every time when you are switching job & closing your previous account.......
From Japan
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