PF withdrawal tax

Saurabh (16 Points)

10 May 2007  
I changed my job in the month of July 2005 from a PSU where i as working for over 10 years. I received gratuity as terminal benefit . I also withdrew my entire PF balance with the employer, on leaving thejob. I joined another job where my PF is being deducted regularly. Thus for FY2006 i will have my Form 16 from two employers.

Please let me know

whether gratuity is exempt from tax

whether PF withdrawal is taxable.

thanks and regards