06 May 2013
I had worked with my old employer for 3 years which ended on 7th May 2010, and after a break of almost one year, i have joined a new company in June 2011. I have never bothered to close my old PF account and got a new PF account with my current employer. I would like to get my old PF account to merge in my new PF account. Now my queries are:
1. Since i had worked only for 3 years with my old employer, whether my transferred balance from old PF to new PF attracts tax.
2. To avoid tax liability will the years I worked for old employer be clubbed with the years I worked for current year for tax exemption because I am planning to leave my current employer within few months (most likely by July this year).
CAclubindia
