Taxability on pf transfer/withdrawl
This query is : Resolved
03 October 2013
Dear Sir,
I have worked in a company for 3 years where I had a Provident Fund (PF) Account. I have then changed by job. I am having a new PF Account in my current organization. My PF account with my previous employes is inactive for more than two years. I am afraid that it will not earn interest once it completes three inactive years.If I go for withdrawal, it will be taxable. I do not want to withdraw or pay tax, rather want to continue as investment and earn interest. Kindly advice as whether to withdraw/ continue with it/ transfer, or any other way so that it continues to grow as well as not become taxable.
Thanks
Swati
I have worked in a company for 3 years where I had a Provident Fund (PF) Account. I have then changed by job. I am having a new PF Account in my current organization. My PF account with my previous employes is inactive for more than two years. I am afraid that it will not earn interest once it completes three inactive years.If I go for withdrawal, it will be taxable. I do not want to withdraw or pay tax, rather want to continue as investment and earn interest. Kindly advice as whether to withdraw/ continue with it/ transfer, or any other way so that it continues to grow as well as not become taxable.
Thanks
Swati
03 October 2013
Hi
You should get it transferred to new organisation!!
After 5 yrs of continuous contribution you may withdraw!
Thanks!!
You should get it transferred to new organisation!!
After 5 yrs of continuous contribution you may withdraw!
Thanks!!
03 October 2013
Thanks a lot..
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