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Is PAN card mandatory to withdraw PF amount after 6 years service? - CiteHR

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Shib123
1

Dear All,
I had served my last job till 02/06/18 since 01/02/12. I have completed 6 years of my service. For name mismatch my PAN no is not verified but Aadhar has been verified. If I withdraw my full PF amount will it be affected? Will tax be deducted? Is it possible to withdraw full PF amount without PAN verification?
Kindly reply & help me to resolve the matter
Thanks & Regards
Shib

From India, Kolkata
winston19
17

Dear Shib Let me put it this way, Pan card is not compulsory but if you do upload only 10% tax will be applicable and if u don’t then 33% tax will be applicable. Regards Winston D’souza
From India, Panjim
Shib123
1

Dear Winston Sir,
I have talked to my previous company HR regarding this matter but she is saying that if aadhar is verified in PF a/c then PAN is not require. Is there any solution that 33% tax will not be deducted from my PF a/c?
Thanks & Regards,
Shib

From India, Kolkata
rajashree-r
If the PF amount is less than Rs.50,000/- No TDS will be deducted and After 5 years of service, even the amount is more than Rs. 50,000/- No TDS will be deducted. Previously the amount is Rs. 30,000/- Now it is revised to Rs.50,000/- I attached TDS flowchart for your reference.
From India, Puducherry
Attached Files (Download Requires Membership)
File Type: png TDS-on-EPF-Withdrawal.png (200.9 KB, 150 views)

winston19
17

Dear Shib
Aadhaar has nothing to do with with TDS. TDS is related to the Income Tax Act.
You can go by the information provided by Anonymous but as a precautionary measure its always good to provide the same.
But then again the decision is yours not the companies.
Regards
Winston D'souza

From India, Panjim
Shib123
1

Dear Sirs, Thanks for your kind suggestion. Thanks & Regards, Shib
From India, Kolkata
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