Pf withdrawal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 November 2014 What are the options available for PF balance in the following case:

A person has left the organisation after working for 2 years. The PF balance of previous organisation where the person worked for 6 years has not been transferred or withdrawn. Now the person wants to start his own business.

what are the options available for the 2 PF account balances.

Please also provide your input regarding tax implications if any.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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13 November 2014 you can withdraw both the PF accounts balance. first account which has 6 years terms withdrawal is exempted. 2nd PF balance which has 2years ( below 5 years) is taxable