Hi all,
I have one query regarding PF withdrawal. One of my colleagues has joined my company this week, and now he wants to withdraw his PF. However, as per the law, there has to be a 2-month gap between your current and last organization.
Regards,
Abhishek Singh
From India, New Delhi
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I have one query regarding PF withdrawal. One of my colleagues has joined my company this week, and now he wants to withdraw his PF. However, as per the law, there has to be a 2-month gap between your current and last organization.
Regards,
Abhishek Singh
From India, New Delhi
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The person should apply for PF withdrawal only after 2 months of leaving the job and will get the money within 45 days of the application. Anyone who has worked even for a day in the organization is entitled to PF withdrawal.
Cheers,
Guru
Be the Change you want to see in the World
From United Arab Emirates, Dubai
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13Cheers,
Guru
Be the Change you want to see in the World
From United Arab Emirates, Dubai
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dear abhisekh you are correct ,than what is your doubt.he can only apply after 60 days of leaving organisation. tks j s malik
From India, Delhi
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From India, Delhi
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Now in our company, he does not want to continue with PF deduction, whereas legally there must be PF deduction. He is saying he will give us a written declaration that he has never been a member of the PF fund, and he wants to have that part in his take-home salary. Will the declaration form work?
From India, New Delhi
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From India, New Delhi
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dear you are correct and no declaration as such required seprately ,you only take signature on form 11 which is made for this purpose only. tks j s malik
From India, Delhi
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From India, Delhi
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Dear,
I also have a query about PF withdrawal. If a person withdraws PF from their last organization as per PF rules, does that PF amount come under taxable income or is there some exemption under the Income Tax law?
Mahender Singh
From India, Faridabad
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I also have a query about PF withdrawal. If a person withdraws PF from their last organization as per PF rules, does that PF amount come under taxable income or is there some exemption under the Income Tax law?
Mahender Singh
From India, Faridabad
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Hi,
I also have the same query regarding the PF withdrawal. Many of the PF application forms which we have signed for the employees have been returned, stating that the employee has not worked for a minimum of 6 months. My concern is that the money of the employee and employer is going to waste. Could anyone please suggest a way to address this issue?
From India, Madras
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I also have the same query regarding the PF withdrawal. Many of the PF application forms which we have signed for the employees have been returned, stating that the employee has not worked for a minimum of 6 months. My concern is that the money of the employee and employer is going to waste. Could anyone please suggest a way to address this issue?
From India, Madras
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Dear,
Regarding tax on PF withdrawal: Yes, if you have withdrawn your PF before superannuation, then it is taxable. On superannuation, PF withdrawal is not taxable.
Regarding withdrawal of PF before completing 6 months:
You will only get the withdrawal of PF, not the pension share. They may be making such remarks on Form 10C. PF authorities will make payment against Form 19.
Thank you,
J. S. Malik
From India, Delhi
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Regarding tax on PF withdrawal: Yes, if you have withdrawn your PF before superannuation, then it is taxable. On superannuation, PF withdrawal is not taxable.
Regarding withdrawal of PF before completing 6 months:
You will only get the withdrawal of PF, not the pension share. They may be making such remarks on Form 10C. PF authorities will make payment against Form 19.
Thank you,
J. S. Malik
From India, Delhi
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Mr. Malik, I saw your message stating that Employee have an option not to opt for PF using Form 11. Can you pls eloborate on this? Regards, Srini
From India, Madras
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From India, Madras
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Hello!
I have two queries. What is the minimum and maximum time limit for PF withdrawal? Does it also take four months if the employee's bank account is in an outstation?
Also, what important documents (like an experience certificate) should be collected from the company after filling up the Exit form?
From India, Nagpur
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I have two queries. What is the minimum and maximum time limit for PF withdrawal? Does it also take four months if the employee's bank account is in an outstation?
Also, what important documents (like an experience certificate) should be collected from the company after filling up the Exit form?
From India, Nagpur
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Hello!
I have 2 queries. What is the minimum and maximum time limit for PF withdrawal? Does it also take 4 months if the employee's bank account is in an outstation?
Also, what important documents (like experience certificate) should be collected from the company after filling up the Exit form?
Regarding your query on PF withdrawal, it is advisable to keep track of the process at the local PF office and get updates from there.
Additionally, you should collect your relieving letter and clearance for all your financial settlements such as LTA, Bonus, etc. If you fall into a tax slab, you should also request Form 16.
Thank you!
From India, Bangalore
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I have 2 queries. What is the minimum and maximum time limit for PF withdrawal? Does it also take 4 months if the employee's bank account is in an outstation?
Also, what important documents (like experience certificate) should be collected from the company after filling up the Exit form?
Regarding your query on PF withdrawal, it is advisable to keep track of the process at the local PF office and get updates from there.
Additionally, you should collect your relieving letter and clearance for all your financial settlements such as LTA, Bonus, etc. If you fall into a tax slab, you should also request Form 16.
Thank you!
From India, Bangalore
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Hi Sweta,
No, for claims, if you have submitted the necessary documentation in one go, it will take a minimum of 40 and a maximum of 50 days at most.
No one will collect the experience certificate from the employee. So, you better leave it at that.
Regards,
Pushparaj R.
From India, Madras
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No, for claims, if you have submitted the necessary documentation in one go, it will take a minimum of 40 and a maximum of 50 days at most.
No one will collect the experience certificate from the employee. So, you better leave it at that.
Regards,
Pushparaj R.
From India, Madras
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Early PF withdrawal won’t be easy.pdf
Employee Benefits.doc