Hi,
I have a query on PF withdrawal in a particular scenario, for which I need expert advice on TDS if I withdraw the PF now -
- I have worked in two organizations from 2004 June to 2007 May, where I contributed to PF. (Duration - 3 years)
- From 2007 June to 2013 August, I worked in an organization where I had an option not to contribute to PF. I did not contribute to PF and had no PF account for that organization. (Duration - 6 years 1 month)
- From 2013 Sep to 2016 April, I worked with an organization where I contributed to PF (Duration 2 years - 8 months). I had transferred my old PF balance to the new company’s account. However this organization restructured and created a new entity in March 2015, where a new PF account was created for me and my team. Therefore this organization has two parts -
- From 2013 Sep to 2015 Feb - One PF account (Duration 1 year 6 months). My old balance is with this account.
- From 2015 Mar to 2016 April - Another PF account (Duration 1 year 2 months)
- Total 2 PF accounts for duration of 2 years and 8 months.
- From 2016 May till date I am with a new firm which has a new PF account. I have not transferred my old PF balances of both the entities to the new account yet
If I withdraw my PF balance of both entities of my previous organization (except my current firm), how much TDS will be deducted?
- I have a PAN card and a UAN no and I need to withdraw PF for my sister’s wedding
- I need to know If the withdrawal will be considered as more than 5 years of service and Contribution to PF (4.6 years - 3 years with first two firms + 1.6 years with first entity of previous firm) or (5 years 8 months – 3 years with first two firms + 2.8 years with both entities of previous firms) or (total 6 years 2 months - 3 years with first two firms + 2.8 years with both entities of previous firms + 6 months of the current firm)
Request the experts to help me with the correct answer. Thanks in advance.
CAclubindia
