POSTED BY December 20, 2010 6:14 pm ONE COMMENT
ONHi,
I want to know whether EPF will be taxable if i leave my job before 5years but still not withdrawing the amount for 5 years after opening the account.
Here is the scenario:
I start job in 2009 and quit in 2012 and withdraw the amount only after 2014.
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If you dont withdraw from PF account, there wont be any tax, provided you moved PF account from previous company to new company’s PF account.
Company A – join in 2009, quit in 2012
Company B – join in 2012
Now, to save tax on PF money of company A…transfer PF account to Company B…incase you dont do it..even if you withdraw from Company A PF account in 2014, it ll still counted as taxable in 2014’s annual income.
Keep transferring PF money to new company’s PF account until you stay in a company for 5yrs to save tax.
-Yogi