POSTED BY September 27, 2010 9:14 pm COMMENTS (2)ON
Generally speaking how much time is taken by EPFO to process the application for transfer of EPF account. Recently i got transfered from Gujrat to Haryana,although i have applied for transfer of my EPF account , but I have come to know that this takes considerable time.
Also ,if it takes too long for transfer of account, can i withdraw my money from the account ,before 5yrs. of starting my EPF acc. without paying any tax (My acc. started in september2006).If i have to pay Tax than how it will be calculated?
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2 replies on this article “Transfer of EPF account.”
Its mix of both.sometimes transfers doen by EPFO takes a considerable time, especially when you are shifting to other locations.When you are changing jobs in same locations, the process is much faster. (I experienced myself).
If you withdraw your PPF account before five years, it will be taxable and will be added to your income.And so the tax will be as per your income tax slab.
If I invest the amount that I get from EPF into any Tax Saving scheme of Govt. of India than can I avoid taxation.
Can you tell me that weather EPF will be taxable in in DTC or not as of today?