I have joined a S/w firm "A" on Jan 2005 and left it Aug 2006 [It means I have worked only for 20 Months] after this I have joined Another firm "B" On Sep 2006 and left it on Dec 2007 [16 Months].
So In Company A - 20 Months
In Company B - 16 Months
I have NOT transferred my PF from A to B. and NOT B to C [Where I am working Currently].
Now My Question is that I would like to withdraw my PF from Both Company [A And B]. In this case my Withdraw PF is Taxable???
Please suggaest for withdraw process.
Thanks in advance
Harish
From India, Pune
So In Company A - 20 Months
In Company B - 16 Months
I have NOT transferred my PF from A to B. and NOT B to C [Where I am working Currently].
Now My Question is that I would like to withdraw my PF from Both Company [A And B]. In this case my Withdraw PF is Taxable???
Please suggaest for withdraw process.
Thanks in advance
Harish
From India, Pune
PF amount is not taxable Approasch PF office or download format and send it to your past employer He has to sign and send it to the PF Office Siva
From India, Chennai
368From India, Chennai
Dear Mr Rakesh Yes it is possible to withdraw Siva NB When filling up application, use normal english!!! PF authorities do not undersatnd SMS and Chat language!!!! Best wishes
From India, Chennai
From India, Chennai
Thanks for your Reply....
As per my knowledge [Gather from different Forum]...Tax on PF amount is depend on the account with Government or charitable trust....In some Forum I got that Company contribution will not be taxable but Employee Contribution will be taxable [if Employee left the company before 5 years OR NOT continue the same PF account till % years(with Other Company)....
In Result I am in Dilemma ...Is there any Web Site [Like Income Tax] where we can get all things in detail with full authenticity...
Thanks
Harish
From India, Pune
As per my knowledge [Gather from different Forum]...Tax on PF amount is depend on the account with Government or charitable trust....In some Forum I got that Company contribution will not be taxable but Employee Contribution will be taxable [if Employee left the company before 5 years OR NOT continue the same PF account till % years(with Other Company)....
In Result I am in Dilemma ...Is there any Web Site [Like Income Tax] where we can get all things in detail with full authenticity...
Thanks
Harish
From India, Pune
Hi friend
I do not know where you got fancy words like chaitable trust.
We can not run a charitable trust on PF. Whether we deposit with Govt EPFO or the Co. has its own trust, it is not taxable.
The opnly way it will fall under income tax is if your organisation is not covered under PF and if your organisation is contributing forming a Trust, you can come under the purview if yoiur organisation has not taken an exemption under IT Act. This is very remote possibility Does not happen nowa days.
I am sorry, I have no idea about any person with authenticity on this subject. Any good auditor in my opinion can guide you. Incidentally what is the amount involved?>?\
Siva
From India, Chennai
I do not know where you got fancy words like chaitable trust.
We can not run a charitable trust on PF. Whether we deposit with Govt EPFO or the Co. has its own trust, it is not taxable.
The opnly way it will fall under income tax is if your organisation is not covered under PF and if your organisation is contributing forming a Trust, you can come under the purview if yoiur organisation has not taken an exemption under IT Act. This is very remote possibility Does not happen nowa days.
I am sorry, I have no idea about any person with authenticity on this subject. Any good auditor in my opinion can guide you. Incidentally what is the amount involved?>?\
Siva
From India, Chennai
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PF AUTHORIZATION FOR WITHDRAW.JPG
When and How to Withdraw PF.doc