Provisions related to TDS on withdrawal from Employees Provident Fund Scheme, 1952
(FORM No. 19)
No TDS in respect of the following cases:-
Transfer of PF from one account to another PF account.
Termination of service due to Ill health of member /discontinuation of Business by employer/completion of project/other
cause beyond the control of member.
If employee withdraws PF after a period of five year.
If PF payment is less than Rs. 30,000/- but the member has rendered service of less than 5 years.
If employee withdraws amount more than or equal to Rs. 30,000/-, with service less than 5 years but submits Form 15G/15H
along with their PAN
TDS will be deducted in respect of the following cases:
If employee withdraws amount more than or equal to Rs. 30000/-, with service less than 5 years, then
a) TDS will be deducted @ 10% if Form-15G/15H is not submitted provided PAN is submitted.
b) TDS will be deducted @ maximum marginal rate (i:e. 34.608%) if employee fails to submit PAN.
Notes:
1. TDS is deductible at the time of payment.
2. TDS will be deducted under Section 192A of Income Tax Act, 1961.
3. Form 15H is for senior citizens (60 years & above) and Form 15G is for individuals having no taxable income. Form 15G &
15H are self declarations and may be accepted as such in duplicate.
4. Members must quote PAN in Form No.- 15G / 15H and in Form No. 19.
FORM NO. 19 - TDS
Employee
withdrawal >=
Rs. 30,000/-
After 5 year
NO TDS
TDS @ 34.608%
Submit Form
15G/15H
Within 5 year
Submit PAN
NO PAN
Employee
withdrawal<
Rs. 30,000/-
NO TDS
No TDS
NO TDS:
Transfer
Termination of service (ill
health/ closure/Cause
beyond the control of the
employee)
Not submit Form
15G/15H
TDS @ 10%
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