Tds on epf
This query is : Resolved
08 July 2015
Is employer deduct tax on EPF? incase deduct tax on EPF employer which form gives to employee.
For example : in case of salary employer deduct tax on salary and gives Form 16 to employee like that.
10 July 2015
Hello. .
Employer need not deduct any tax on EPF. The TDS will apply at the time of payment of provident fund for employees with less than 5 years of service.
1.PF withdrawls before 5 years of completion of service will attract TDS at 10%.
2.If the accumulated PF balance is < 30,000, TDS would not be applicable.
3.TDS will be deducted at 34% if subscriber fails to submit PAN.
4.TDS exemption has been given to subscribers with no taxable income provided required forms are filed (15G/15H).
Employer need not deduct any tax on EPF. The TDS will apply at the time of payment of provident fund for employees with less than 5 years of service.
1.PF withdrawls before 5 years of completion of service will attract TDS at 10%.
2.If the accumulated PF balance is < 30,000, TDS would not be applicable.
3.TDS will be deducted at 34% if subscriber fails to submit PAN.
4.TDS exemption has been given to subscribers with no taxable income provided required forms are filed (15G/15H).
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