POSTED BY February 11, 2014 5:16 pm ONE COMMENTON
I am new to this forum, asking my first question. If any query is repeated please ignore and share the link if possible. Thank you in advance.
1: PF withdrawal is tax free after 5 years of service?
I have worked in TCS for 2 years. TCS has their own PF trust. While leaving TCS i have withdrawn my PF for 2 years. After that I have joined some other company and they have opened my new PF account with the EPFO. And I am working in this organization for more than 3 years now. So total 5 years of service. Can I withdraw the PF Collected in account with EPFO, since i am working for a total of more than 5 years now? Or I have to wait for 2 more years to get my EPFO account 5years old?
2. This is general query
Since an employee can withdraw the PF after 5 years without tax. Say an employee is depositing Rs 20,000 every year since starting the job for 4 years (i.e 80,000 in 4 years), and increases the PF amount i.e. VPF say by 80,000(i.e. total 100,000 in that year) in 5th years. So after completing the 5 years he will get 180,000 without any tax?
3. This is also general query
Can an employee withdraw PF without tax after every 5 years or this facility is only available once?
Thanks for going through the queries. I will be glad to get the replies to my queries.