12 October 2022
Facts: 1. Person aged 55 joins a job and enrolls in EPF for the first time April 2017 2. Employer and employee contribution continues for 3 years 3. The employee retires from the services of the company on attaining age of 58 in April 2020, after 3 years, as per company rules. 4. Employee does not withdraw PF till September 2022 (more than 5 years) QUERY; 5. Will the person liable to pay income tax on PF withdrawal after being member for more than 5 years but he was in continuous service for only 3 years (less than 5 years)?
CAclubindia
