Dear Seniors, Kindly guide me .My company is saying that my PF withdrawal will attract 25-30% deduction. I heard from my Separation Officer that it should be 10% maximum. Please help me out. Thanks,
From India, Calcutta
From India, Calcutta
Hi, What deduction are u talking abt. Pl specify. Since there is no deduction takes place from withdrawal amount. Or dose your company have there own PF Fund? Regards, Harshad
From India, Mumbai
25From India, Mumbai
Mr.Harshad,
My company says that there may be a deduction of 25-30% deduction on the withdrawal.
My EPf Account no reads like MH/BAN/.../.... ,I am not sure if they have a PF FUnd.
But whatever be the case can the laws of EPF be changed if an organisation has its own PF Fund.
I am worried if the reduction is legal or not.
From India, Calcutta
My company says that there may be a deduction of 25-30% deduction on the withdrawal.
My EPf Account no reads like MH/BAN/.../.... ,I am not sure if they have a PF FUnd.
But whatever be the case can the laws of EPF be changed if an organisation has its own PF Fund.
I am worried if the reduction is legal or not.
From India, Calcutta
Hi, What deduction is that? Have they specified on what account the deduction will be? There is no tax applicable on withdrawal as of now? so whats the ded? Regards, harshad
From India, Mumbai
From India, Mumbai
The mail reads like this:-
Dear XYZ,
Please note tax around 25-30 % will be deducted on your PF withdrawal. So request you to transfer your PF to your current organisation.
If you have any further clarifications, kindly mail us or call us on the below mentioned number.
Thanks & Regards,
PS:-
I do not have any employment at present and so the question of transferring the PF is out of consideration.
From India, Calcutta
Dear XYZ,
Please note tax around 25-30 % will be deducted on your PF withdrawal. So request you to transfer your PF to your current organisation.
If you have any further clarifications, kindly mail us or call us on the below mentioned number.
Thanks & Regards,
PS:-
I do not have any employment at present and so the question of transferring the PF is out of consideration.
From India, Calcutta
if you obtained any advance from PF then only they will be deducted from your settlement, otherwise nothing can be deducted from any body.
Normaly PF deducted amount is also IT excemption.how it is possible to deduct tax amount.
regards
thiru:-P
From India, Madras
Normaly PF deducted amount is also IT excemption.how it is possible to deduct tax amount.
regards
thiru:-P
From India, Madras
PF funds if managed by the Regional PF Commissioner does not attract any tax. But if have a saperate PF Trust then TDS is applicable as per your TDS slab. If PF withdrawan within 6 months fromom PF office then Pension Fund will not be paid.
Regards
Anish
From India, Pune
Regards
Anish
From India, Pune
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Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc