Withdrawal or transefer of my pf

This query is : Resolved

Balaji Subbu (Querist)
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31 May 2012 Hello CA Club

1. If I withdraw my PF during 2012 (I worked for less than 5 yrs) shall I have to pay any TAX? If so how much?

2. If I Transfer my PF to my new Employer ---any Tax I have to pay or not?

3. If I Transfer (my friend is saying) it will take more than 10 months to get transferred to the New Employer? Is it true? How long it will take?

4. If I withdraw my PF -In the PF Withdrawal Form- Shall I sign declaration of non-employment? Or not

Thank you

Regards

Balaji Subramaniam

Ki$hor B

Ki$hor B (Expert)
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31 May 2012 1. You have to pay tax.
Rate depends your salary slab.

2. No tax is payable on such transfer.

Ki$hor B

Ki$hor B (Expert)
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31 May 2012 3. Transfer procedure is initiated and followed up by the new employer. Duration could few months.

4. One can mention any reason for withdrawing PF.

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