If withdrawn before 5 years it is taxable else it is not taxable
No
No, it is not taxable
No
If you withdraw before completing 5 years of service - Yes, it is taxable. If you have completed 5 full years, no it is not taxable
Under the PGBP the amount will not be allowed as business expenditure hence will be added back. Thus the amount will be treated as Income and taxable.
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.
The withdrawal rules for provident fund are the same across India. Refer to the related links for details on each of the rules
It is 8.5% compounded yearly
there is a provident fund office where you can go and enquire about it
If it is not a full withdrawal - 30 days Full withdrawal at retirement - 30 days Full withdrawal before retirement - 90 days
There is no option to withdraw money from your PF for purchase of a Car
Yes, the Provident Fund (PF) pension received is generally taxable in India. However, the tax treatment can vary based on the duration of the employee's service and the specific plan provisions. For instance, if the employee has completed more than five years of service, the withdrawal amount may be exempt from tax under certain conditions. It's advisable to consult with a tax professional for personalized guidance.