How much tax will be levied on PF

Save Share

This query is : Open

Vinod (Querist)
Follow

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.

CA Sanjay Jha

CA Sanjay Jha (Expert)
Follow

29 April 2010 if u have govt employee - fully exempt
if u have pvt employee- only interest+ employer contribution received are taxable.

Vinod

Vinod (Querist)
Follow

29 April 2010 ok... thanks for the quick response... but how much tax will be levied on it....??? like 10%, 20%, or 30%....???

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

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

Vinod

Vinod (Querist)
Follow

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...??

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now