How much tax will be levied on PF
This query is : Open
29 April 2010
Hi,
I want to know that how much tax will be levied on my PF amount if I decide to withdraw it before 5 continuous years of service.
Let's say I have Rs. 20,000 in my PF account.
I want to know that how much tax will be levied on my PF amount if I decide to withdraw it before 5 continuous years of service.
Let's say I have Rs. 20,000 in my PF account.
29 April 2010
if u have govt employee - fully exempt
if u have pvt employee- only interest+ employer contribution received are taxable.
if u have pvt employee- only interest+ employer contribution received are taxable.
29 April 2010
ok... thanks for the quick response... but how much tax will be levied on it....??? like 10%, 20%, or 30%....???
29 April 2010
No specfic rate. the amount will be included in your Taxable income and based on applicability tax slab to you will taxed accordingly
30 April 2010
ok... great. thanks.
But will EPFO deduct the tax (as TDS) and pay me the remaining amount..?? if yes, then how would they come to know my current salary and related tax slab...??
But will EPFO deduct the tax (as TDS) and pay me the remaining amount..?? if yes, then how would they come to know my current salary and related tax slab...??
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