EPF/EPS closure after 6 years of service

POSTED BY Arun_Ramesh ON May 7, 2014 4:48 pm COMMENTS (2)

Hello,

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.

2 replies on this article “EPF/EPS closure after 6 years of service”

  1. Arun_Ramesh says:

    Thank you Ashal.

  2. ashalanshu says:

    Dear Arun, please go ahead and redeem. the amount ‘ll not be taxable.

    Thanks

    Ashal

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