The Contractor (Labour Supplier) have deposited the PF contribution of Contract Employees in Company's PF Trust during the year 1995-2000.
The Contract Employees now wanted to withdraw the PF from Company's PF Trust. The total service of Contract Employee's is less than 5 years.
Whether the TDS will be applicable on premature of PF withdrawal considering the total service is less than 5 years? If yes, under which section and what will be the rate?
Yes. U/s. 192A of IT act, provided the amount is 50000 or more.
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