Epf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2013
if a person withdraw 11 lakhs form provident fund so what is the tax liability beared by the employee ?
please tell in both cases where employee worked less than 5 yrs n more than 5 yrs .
please tell in both cases where employee worked less than 5 yrs n more than 5 yrs .
26 July 2013
If more than 5 year, the entire proceeds will be exempted
If less than 5 years, other than termination or relieving due to illness, the employee contribution is exempted, interest on employee contribution is taxable under " Other sources" and Employer contribution and interest will be taxable under salary
If less than 5 years, other than termination or relieving due to illness, the employee contribution is exempted, interest on employee contribution is taxable under " Other sources" and Employer contribution and interest will be taxable under salary
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