My PF account is active since 1 October 2011,But I left the job in December 2013 for further study ,So my account is in inoperative since then.Below is my pf account summary on June 2014 :
Closing Balance as on : 30/04/2014
Employee Share : 49642
Employer Share : 33018
Pension Fund : 14878
Due to financial need, I want to withdraw that now... how much amount will be deducted as tax? How much amount I'll get?
Please answer ASAP so that I can take my decision accordingly.
24 June 2014
if you withdraw the money before complete the 5 years then it will be taxable in your hand in which year you received the amount . now you are doing study and amount of PF is below Rs.200000/- then no tax will payable by you.
CAclubindia
