PF withdrawal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2010 I had worked in a company for 3 years. Now I have moved to another company. I want to withdraw my PF. Please advise if the amount withdrawn is taxable @ 30.3% . My ex-employer says that PF contribution for less than 5 years is taxable.

SANDEEP AGGARWAL

SANDEEP AGGARWAL (Expert)
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26 August 2010 You can transfer the balance to your new PF account deposited by your new employer otherwise premature withdrawl is taxable income in the year of withdrawl.

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2010 I heard that there is a proposal not to charge tax on pf withdrawals. Please let me know if that will be made as a law in this financial year

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