What is better ? To withdraw OR transfer EPF (Employee Provided Fund)

POSTED BY jnikumbh ON September 18, 2013 9:47 pm COMMENTS (5)

When we change the Job, what is recommended generally on PF? Better to withdraw OR transfer to next to be organization? In case of need of money, I think better to withdraw, but if money is not needed then? Does it also depend on no. of years we spent in current organization?

5 replies on this article “What is better ? To withdraw OR transfer EPF (Employee Provided Fund)”

  1. Jwalant says:
    September 21, 2013 at 6:16 pm

    Dear Ashal
    what is E-E-E & E-E-T status?
    Kindly elobrate more for same.

    Reply
    1. jnikumbh says:
      September 21, 2013 at 9:04 pm

      Jwalant, I think E means Exempt and T is for Tax, meaning withdrawing PF would make it taxable.

      Ashal, correct me if I am wrong.

      Reply
  2. ashalanshu says:
    September 19, 2013 at 9:34 pm

    Dear Jnikumbh, EPF is implementing online application & transfer of acount system. So I can not comment on the time frame under the new set up. 🙂

    thanks

    Ashal

    Reply
  3. ashalanshu says:
    September 18, 2013 at 11:05 pm

    Dear Jnikumbh, no matter you work for 1 Y or 10Y with an employer, it’s always beneficial to transfer your PF to new employer due to simple thing. The Amount is under E-E-E status till it’s in PF corpus. The moment, it’s out of PF corpus, it ‘ll go into E-E-T status.

    thanks

    Ashal

    Reply
    1. jnikumbh says:
      September 19, 2013 at 1:12 pm

      Thanks Ashal for ur reply. Can you also tell me , approx time it takes for EPF transfer ?

      Reply

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