Hi,
I am trying to determine if the PF amount is taxable or not if I want to withdraw the whole amount after 1.5 years of working. For example, the monthly deduction is Rs. 780, and I have been working for 22 months.
So, 780*22=17160*2=34320+Interest (Just approximate). From the above equation, will I be able to get the whole Rs. 34000+ (If I resign after 22 months) or will it come after tax deduction?
Please help me clear my doubt.
From India, Delhi
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I am trying to determine if the PF amount is taxable or not if I want to withdraw the whole amount after 1.5 years of working. For example, the monthly deduction is Rs. 780, and I have been working for 22 months.
So, 780*22=17160*2=34320+Interest (Just approximate). From the above equation, will I be able to get the whole Rs. 34000+ (If I resign after 22 months) or will it come after tax deduction?
Please help me clear my doubt.
From India, Delhi
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PF contributions accumulated and withdrawn after any period of time is not taxable Regards Sebastian
From India, Bangalore
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1From India, Bangalore
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PF withdrawal is taxable if withdrawn before five years as per income tax act. Please get this clarified from A CHARTERED ACCOUNTANT. Paresh Shah.
From India, Mumbai
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From India, Mumbai
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P.F. withdrawal is tax exempted. You will get whole of your contribution andd only a part of employer’s contribution if the account is closed in less tthan 5 years. K.Viswanathan.
From India, Delhi
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From India, Delhi
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Hi, Can the employer stop any employees' EPF or denies to share any information if he/she is absconding?
From India, Delhi
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From India, Delhi
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Thank you, Shakti.
I worked as an employee in a consultancy for about 6.6 months (Sept 20, 2010 - April 4, 2011). I did submit my resignation, but they are claiming it as an absconding case, and hence they are not sharing my EPF Account number with me. What can I do to obtain my EPF Account number?
From India, Delhi
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I worked as an employee in a consultancy for about 6.6 months (Sept 20, 2010 - April 4, 2011). I did submit my resignation, but they are claiming it as an absconding case, and hence they are not sharing my EPF Account number with me. What can I do to obtain my EPF Account number?
From India, Delhi
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As per My poll results 90% says that PF is not taxable at any circumstances. What about the rest 10%?
From India, Delhi
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From India, Delhi
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Shewta, Had you got pay slip from your employer and Pf deduction shown in your pay slip???
From India
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From India
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Yes Shakti,i do have a pay slip and my PF Deduction is mentioned in my appointment letter also.
From India, Delhi
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From India, Delhi
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Shewta,
If your employer completely denies providing the PF number, you can visit your nearest PF Office and meet the PF Inspector in your area. Bring along your Appointment Letter and Payslip, and explain the situation to him. He will definitely assist you with this matter. Before taking this step, revisit your employer and inquire again about the PF. If the employer refuses, inform them that you will escalate the issue to the PF office.
I am certain that following these steps will prompt your employer to take a defensive stance.
From India
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If your employer completely denies providing the PF number, you can visit your nearest PF Office and meet the PF Inspector in your area. Bring along your Appointment Letter and Payslip, and explain the situation to him. He will definitely assist you with this matter. Before taking this step, revisit your employer and inquire again about the PF. If the employer refuses, inform them that you will escalate the issue to the PF office.
I am certain that following these steps will prompt your employer to take a defensive stance.
From India
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