POSTED BY July 16, 2012 10:28 pm COMMENTS (5)ON
I just want to thank you for the great work you are doing – that of creating financial awareness.
Your site is just awesome.
I have a question regarding EPF. I worked in company A from Nov,2008 to January,2012. My last working day in January,2012. So my total working tenure 3 years and 3 months. I had opened an EPF account there.
a) Say I do not work again anytime as I have started my business .My EPF account will complete
5 years in Nov,2013. If I withdraw money after Nov,2013 ,will it be taxable. Will that be
counted 5 years of continous service ?
b) Say I get a job after 1 year ,say from January ,2013. and I join another company and transfer
my EPF account there. Now there is a gap of 1 year between 2 jobs. Now to count the
continuous service,will the years with my first co be added to my second company. And also
the 1 year gap ,will it be also taken into account ?
The reason I am asking this is if my first co’s years are not going to get added to my second
co’s years,isn’t it prudent to withdraw my EPF.