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 I believe if someone withdraws PF amount before the age of retirement, tax will be incurred on the withdrawn PF amount.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
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 I believe if someone withdraws PF amount before the age of retirement, tax will be incurred on the withdrawn PF amount.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
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
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
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
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
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
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
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls