Pf withdrawal query

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Bharath Kumar (Querist)
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17 April 2018 Hi,

I have been working in an organisation for 3 years, will now be changing to other organisation which does not have PF account, let me know how should i proceed with the my PF account and the procedure to withdraw the same.

Thanks & Regards
Bharath Kumar M

CA Suresh Jain

CA Suresh Jain (Expert)
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17 April 2018 In my opinion it is not wise to withdraw PF even if new employer does not have PF facility. The same account can be used in future when you change the employer who has the PF facility

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Bharath Kumar

Bharath Kumar (Querist)
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17 April 2018 Dear Sir,

Thanks for your suggestion, in future if I want to withdraw current organisation PF amount along with previous organisation PF amount, will i need approval of both the organisation ?

Regards
Bharath

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Guest

Guest (Expert)

17 April 2018 Now, PF accounts are linked with Aadhar. If it is linked, then approval of employer is not required for withdrawal.
If not, only current employer's approval is needed.
You may check Aadhar linking by logging to employee's account on EPFO website.

Bharath Kumar

Bharath Kumar (Querist)
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18 April 2018 Thanks for your reply, is there any option to withdraw my PF amount now?

Guest

Guest (Expert)

18 April 2018 Yes, you can withdraw. But, tax will be deducted if it is more than 50,000.
If it is linked to your aadhar, you can submit claim online. Else you need to fill composite claim form (non-aadhar) and get it signed by your last employer.
But, as advised by Mr. Jain, it is not advisable to withdraw it fully, if there is no emergency.

Bharath Kumar

Bharath Kumar (Querist)
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18 April 2018 Dear Sir,

Please let me know how much tax will be deducted and how to avoid it,

Also advice why do you suggest not to withdraw.

Guest

Guest (Expert)

18 April 2018 Tax will be deducted if more than 50,000, as you have left service before 5 year. You can claim refund by filing ITR.

If there is no urgency you can keep the account. So that in future when you get PF regd. employer, you can continue the account.

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Bharath Kumar

Bharath Kumar (Querist)
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18 April 2018 Please let me know what all details should i take regarding PF from my previous employer.

Guest

Guest (Expert)

18 April 2018 Your UAN.
Read the process here: https://www.news18.com/news/india/4-steps-to-withdraw-epf-online-for-final-settlement-partial-withrawl-and-pension-withdrawl-claims-1471481.html