23 December 2009
1) Which one is better option whether withdrawal from PF or to transfer from one PF account to another on account of change of job. 2) What would be tax implication on above two options (withdrawal/tranferring). 3) If a person is opting to withdraw amount from PF account then whether he will be eligible to get benefit of contribution to PF u/s 80C of IT Act 1962 if withdrawal in same year i.e. say for eg. contributions to PF from april to aug 09 and then changing job and then withdrawing amount credited to PF account in month of nov 09 then whether he will get deduction u/s 80C of PF contribution from april 09 to aug 09.
23 December 2009
PF TRANSFER IS BETTER OPTION,RIGHT NOW INTREST RATE 8.5% ON PF DEPOSIT. IN CASE YOU WITHDRAW THE PF AMOUNT IT IS EXEMPTED FROM INCOME TAX.
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