PF Taxation

POSTED BY Matter ON July 29, 2013 5:09 pm COMMENTS (2)

Hi,

This is my third company. I have two PF accounts at two different previous companies. One is more than five years old and the other account is two years old. I want to withdraw both my PF accounts. Do I have to pay any tax on these? Please also note that I was jobless for six months prior to joining current company.

Please point some useful inlinks in this regard.

2 replies on this article “PF Taxation”

  1. BanyanFA says:

    Check this article out to back up my last statement where I am asking you not to redeem your PF.
    http://insight.banyanfa.com/provident-fund-for-salaried-employee/

  2. BanyanFA says:

    For the first and second company you can withdraw PF tax free as the combined tenure in both the companies is more than 5 years.

    However, I would suggest you to consolidate your PF into your third company as it is an excellent tax free secure form of retirement saving.

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