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After 5 years from the date of inception of the account or during retirement.
Withdrawing before 5 years would attract income tax liabilities. Let me explain.
Assuming your salary CTC is 5 lacs for this year and you withdrew your PF amount of say 2 lacs which you accumulated in 4 years, your net taxable income for income tax for this financial year would be 7 lacs.
If you had waited one more year, this 2+ lacs would have been tax free on your hands.
Wiki User
∙ 14y ago
Wiki User
∙ 11y agoPF funds are for retirement and you cannot just withdraw it for any reason. There are specific reasons and time durations you must complete to be able to withdraw it. Refer to the related links about the rules governing withdrawal of EPF.
Apart from this, you can get your PF when you resign from your job and will not take up any other jobs for a period of at least 2 months.
Wiki User
∙ 11y agoIt will take 90 days for the money to reach you
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Can you withdraw only pf amount leaving pension amount?
Yes. When you try to withdraw your PF, only the PF amount will be given to you. The Pension amount goes into a different scheme and hence is not part of the PF corpus that you can withdraw.
How do you make withdraw from inoperative pf account?
Shall i withdraw my pf amount from inoperative account
Should you withdraw PF and then re invest the amount in VPF to gain tax rebate?
No.
How you can withdraw your pf amount inform therules?
It depends on how long you have had the PF account and why you are withdrawing it. Refer to the link in the related links section to understand the rules.
How can you withdraw PF amount?
If one has no job for at least 2 months, one can withdraw from provident fund. To do so, a declaration is required, stating the reason for leaving the job.
You want to withdraw your provident fund how should you do?
You can submit a written request for withdrawal to your employee or your regional provident fund office. Remember: You can withdraw only a portion of your PF balance if you are employed. Only if you are currently not employed, the PF amount would be settled in full.
What is the rule for PF withdrawal in a company?
You cannot withdraw your PF if you transfer to another company. You can only withdraw your PF if you are unemployed and it has been at least 2 months since your last withdrawal.
How can you withdraw money from your provident fund?
You can withdraw money from your PF Account by submitting a written request to your nearest Provident Fund Office. Note: Your PF Account is not a bank account and you cannot withdraw money as and when you please. There are rules governing when and for what you can withdraw money from your PF corpus. Check out the related link to know when and for what you can withdraw money from your corpus.
Can you withdraw my pf if you are still working in company?
Yes you can.
How do you withdraw money from PF account?
You can withdraw money from your PF account by submitting a written request to your regional PF office with your PF Account number. The PF account is not like normal bank accounts and hence you cannot do it anytime and everytime you wish. You can make only 3 withdrawals throughout the duration of the PF accounts lifetime.
Can you withdraw pf from ochoa pharmaceutical ltd?
Yes, if you worked for them and there was a pf account created while you worked there.
If you withdraw your pf money after resigning from your job will 20 percent of the amount be deducted?
If you are resigning before completing 5 years of service then yes, the amount you withdraw is taxable. The tax is not 20% but instead, the amount withdrawn is added up with your annual salary and taxed according to the prevailing tax slabs
