Withdrawal or transefer of my pf
This query is : Resolved
Balaji Subbu
(Querist)
31 May 2012
Hello CA Club
1. If I withdraw my PF during 2012 (I worked for less than 5 yrs) shall I have to pay any TAX? If so how much?
2. If I Transfer my PF to my new Employer ---any Tax I have to pay or not?
3. If I Transfer (my friend is saying) it will take more than 10 months to get transferred to the New Employer? Is it true? How long it will take?
4. If I withdraw my PF -In the PF Withdrawal Form- Shall I sign declaration of non-employment? Or not
Thank you
Regards
Balaji Subramaniam
1. If I withdraw my PF during 2012 (I worked for less than 5 yrs) shall I have to pay any TAX? If so how much?
2. If I Transfer my PF to my new Employer ---any Tax I have to pay or not?
3. If I Transfer (my friend is saying) it will take more than 10 months to get transferred to the New Employer? Is it true? How long it will take?
4. If I withdraw my PF -In the PF Withdrawal Form- Shall I sign declaration of non-employment? Or not
Thank you
Regards
Balaji Subramaniam
31 May 2012
1. You have to pay tax.
Rate depends your salary slab.
2. No tax is payable on such transfer.
Rate depends your salary slab.
2. No tax is payable on such transfer.
31 May 2012
3. Transfer procedure is initiated and followed up by the new employer. Duration could few months.
4. One can mention any reason for withdrawing PF.
4. One can mention any reason for withdrawing PF.
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