I resigned from my job with a private firm after 15 years in December 2017 to work as a freelance consultant.
Since I don’t have any immediate requirements for the funds, I don’t want to withdraw the EPF money now. Would appreciate if you could clarify following questions in this regard:
1. Will the balance in my EPF account earn interest, even if no fresh contribution are made?
2. How long will it continue to earn interest if there is no change in my employment status?
3. Is the interest earned during the period when there are no contributions taxable?
3. Can I choose to withdraw the money only after I am 58? What are he implications? I am 50 years now.
From India, Bengaluru
Since I don’t have any immediate requirements for the funds, I don’t want to withdraw the EPF money now. Would appreciate if you could clarify following questions in this regard:
1. Will the balance in my EPF account earn interest, even if no fresh contribution are made?
2. How long will it continue to earn interest if there is no change in my employment status?
3. Is the interest earned during the period when there are no contributions taxable?
3. Can I choose to withdraw the money only after I am 58? What are he implications? I am 50 years now.
From India, Bengaluru
Hi,
Please find reply to your queries as follows :
1. Will the balance in my EPF account earn interest, even if no fresh contribution are made? - After contribution towards PF account is stop then interest will be paid only upto next 3 years.
2. How long will it continue to earn interest if there is no change in my employment status? - upto next 3 years.
3. Is the interest earned during the period when there are no contributions taxable? - Non Taxable if you have minimum service of 5 years.
3. Can I choose to withdraw the money only after I am 58? What are he implications? I am 50 years now.- - Yes you can do so
377Please find reply to your queries as follows :
1. Will the balance in my EPF account earn interest, even if no fresh contribution are made? - After contribution towards PF account is stop then interest will be paid only upto next 3 years.
2. How long will it continue to earn interest if there is no change in my employment status? - upto next 3 years.
3. Is the interest earned during the period when there are no contributions taxable? - Non Taxable if you have minimum service of 5 years.
3. Can I choose to withdraw the money only after I am 58? What are he implications? I am 50 years now.- - Yes you can do so
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