Hello, I recently left one company after 4 years and 11 months of service. Now I am going to relocate to another country for a better position.
Can anybody tell me how I can withdraw my PF amount? What are the documents needed and how much time will it take to process my request?
Thank you,
Roopesh
India
From India, Noida
Can anybody tell me how I can withdraw my PF amount? What are the documents needed and how much time will it take to process my request?
Thank you,
Roopesh
India
From India, Noida
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Hi Roop,
Please contact your HR department. They will ask you to fill out a form in order to withdraw your PF. It usually takes 30-45 days for the PF to be processed and credited to your account. However, please note that if you withdraw your PF before 5 years, then tax is applicable on it.
Thanks,
Sam
From India, Pune
13Please contact your HR department. They will ask you to fill out a form in order to withdraw your PF. It usually takes 30-45 days for the PF to be processed and credited to your account. However, please note that if you withdraw your PF before 5 years, then tax is applicable on it.
Thanks,
Sam
From India, Pune
Dear Mr. Roopeshtek,
I didn't see the provision on income tax for before completing 5 years in PF. But I shall quote TaxGuru, the leading tax consultant site via http://taxguru.in [i]<link fixed></i> as under.
"Withdrawal of Provident Fund may attract Income Tax. The Income Tax Department recently told EPFO (Employees Provident Fund Organisation) to deduct Tax (TDS) from the withdrawal amount if the withdrawal happened before completing five years of subscription. Tax officials have cited a rule in the 1961 Income-Tax Act that taxes PF withdrawals by employees before completing five years of contributions into the EPF are taxable."
From their posting, it may be learned that for tax exemption, 5 years of contribution is required. However, you may try to withdraw the amount after 5 years.
Abbas.P.S
From India, Bangalore
I didn't see the provision on income tax for before completing 5 years in PF. But I shall quote TaxGuru, the leading tax consultant site via http://taxguru.in [i]<link fixed></i> as under.
"Withdrawal of Provident Fund may attract Income Tax. The Income Tax Department recently told EPFO (Employees Provident Fund Organisation) to deduct Tax (TDS) from the withdrawal amount if the withdrawal happened before completing five years of subscription. Tax officials have cited a rule in the 1961 Income-Tax Act that taxes PF withdrawals by employees before completing five years of contributions into the EPF are taxable."
From their posting, it may be learned that for tax exemption, 5 years of contribution is required. However, you may try to withdraw the amount after 5 years.
Abbas.P.S
From India, Bangalore
Submit PF withdrawal forms when ever you decide under proper acknowledgment. The designated authorised HR personnel has to attest and submit attested form to concerned OF office within 5 days
From India, Chandigarh
From India, Chandigarh
The acknowledgment issued by PF office is to be supplied to you by effective mode of communication e.g. Redhead.Post.
From India, Chandigarh
From India, Chandigarh
You may demand acknowledgment to be supplied to you by redg.Post only.. Usually within 10 days or so amount is credited in a/c
From India, Chandigarh
From India, Chandigarh
You can withdraw your PF by simply filling up form 19 & 10C, take the employer's signature, and submit it to the PF office. You will receive your PF amount in your bank account within 45 days after submitting the PF forms.
Documents required: Nationalized Bank Account, Cancelled Cheque, PAN Card, Aadhaar card along with form 19 & form 10C.
If you have any queries, please let me know.
Email: subhash.t@wgs2.com
WeGiveSolutions Business Services and Consultancy LLP.
Mumbai-Pune
From India, Mumbai
Documents required: Nationalized Bank Account, Cancelled Cheque, PAN Card, Aadhaar card along with form 19 & form 10C.
If you have any queries, please let me know.
Email: subhash.t@wgs2.com
WeGiveSolutions Business Services and Consultancy LLP.
Mumbai-Pune
From India, Mumbai
Thank you for those valuable inputs.
I have one more query about my gratuity. Only 15 days will be remaining to complete 5 years of employment with my current employer. Can anybody tell me if I am eligible for the gratuity amount or not?
From India, Noida
I have one more query about my gratuity. Only 15 days will be remaining to complete 5 years of employment with my current employer. Can anybody tell me if I am eligible for the gratuity amount or not?
From India, Noida
The EPF deductions are exempt from income tax. Is it mandatory that the deduction shall be for 5 years? I HAVE CONFUSION on this point whether the contribution shall be for 5 years or only TDS exemption will be allowed if the withdrawal will be after retaining the PF amount in your PF A/C for 5 years. If withdrawal will be after 5 years, then from which date can the 5 years be taken? From the date of eligibility or from the date of the last deduction. I shall be grateful if this matter may be clarified.
With Regards, N.K SHARMA
From India, Chandigarh
With Regards, N.K SHARMA
From India, Chandigarh
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