Withdraw pf without tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2013 Hi,

My objective is to withdraw PF without incurring tax. The facts (service period) are given below:

First Co From Mar 2006 to Mar 2010;
Second Co from Apr 2010 to Jun 2013;
Joined third Co in July 2013.

I have not transferred my PF from First Co to Second Co. Have not transferred PF from second co to third co also.

I read if we withdraw PF within first 5 years of service, PF is taxable.

My question is can I withdraw PF from Ist & IInd co without transferring the PF from Ist Co to IInd Co?

Or should I transfer PF from Ist Co to IInd co & then withdraw?

Kindly advice.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 December 2013 You may follow the link -

http://wealth18.com/how-to-withdraw-pf-early-pre-mature-in-case-of-emergencies-or-specific-conditions/

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2013 Thanks. But that do not answer my question.

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 December 2013 It is advisable to transfer the balance from Ist Co to IInd company's PF A/c and then withdraw the same from the IInd Company's PF A/c.
.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Thanks. But can i transfer to second Co, which i have left 3 months back?