Is EPF withdraw taxabale with in 5 years?
This is like million dollars question in every one's mind these days those who are keep jumping jobs in one or two years of time. The confusion is, company payroll team says 'no tax deduction on withdrawal' with in five years. However, when you search on the web (internet), some sites says 'Yes', some one say 'No'. Which is the correct information, now that is the question.
One of my friend who worked earlier in TCS (Tata Consultancy Services) withdrawn the PF amount with in 5 years of time, he said there was some deduction.
However, in my case I withdrawn my previous company PF, which I didn't see any tax deduction in it. Now again the question arises, is that depends on the company to company (example MNC IT Company or a small software established one). Each and everyone should follow the EPF rules and regulations irrespective whether it is a big MNC or small company.
I'll post the 'Final Conclusion' shortly what is right and what is wrong, because I'm gonna discuss with the PF office team. In the mean time, if you any knows the correct information, can leave their comments below.
One of my friend who worked earlier in TCS (Tata Consultancy Services) withdrawn the PF amount with in 5 years of time, he said there was some deduction.
However, in my case I withdrawn my previous company PF, which I didn't see any tax deduction in it. Now again the question arises, is that depends on the company to company (example MNC IT Company or a small software established one). Each and everyone should follow the EPF rules and regulations irrespective whether it is a big MNC or small company.
I'll post the 'Final Conclusion' shortly what is right and what is wrong, because I'm gonna discuss with the PF office team. In the mean time, if you any knows the correct information, can leave their comments below.
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