PF withdrawal after completing 5 yrs in service

POSTED BY Zaheer ON December 20, 2012 11:56 am ONE COMMENT

Hi,

I have worked in company ‘A’ for 3 years , currently working for company ‘B’ since 2.5 years. I want to withdraw my PF .

Please clarify on the below:
a) PF withdrawal is possible only after separation from company ‘B’
b)  Only PF loan is possible while serving in the current company.

c) What are the tax implications of withdrawal ?

Thanks,

Zaheer.

 

One reply on this article “PF withdrawal after completing 5 yrs in service”

  1. Biswa Singh says:

    a) No. You can withdraw while working in the company B. But only for house/land purchase, marriege in family, hostpitalisation purpose, etc.

    b) Yes

    c) No tax for loan. But if you want to withdraw PF before 5 years than it will be taxable. One important point is that if you have changed more than one company in the 5 years you have to transfer your PF from previous company to the current comapny you are working otherwise it is taxable.

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