POSTED BY May 7, 2014 4:48 pm COMMENTS (2)ON
I have completed 6 years in my current company X. I will be resigning next month & joining another company Y. After joining Y, in 2 months, I will be deputed abroad for next 4-5 years. That is, I will be working for my onshore company of Y.
I would like to know:
a) if I can close EPF & EPS account when I leave company X. If so, is it taxable?(after 6 years of service).
b) should I transfer my EPF/EPS to company Y? If so, can i close the account before I leave abroad. If so, is it taxable?
I am planning for the closure of the EPF/EPS account, as I will not be in India for atleast next 5 years. I don’t want it to be as dormant account.
Your suggestions will be of great help.