Hi
My client is around 55 years. He is leaving India and relocating to USA. Can he withdraw his PF contribution in full from PF account. If not, when can he claim full settlement.
Thanks
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EPF withdrawal at 55 years
Replies (1)
EPF if withdrawn after continuous 5 years of service, is fully exempt at the time of withdrawal.
If a person withdraws at the time of retirement, then it will be exempt from tax.
If a person withdraws before 5 years then the withdrawn become taxable and the amount which was earlier claimed as deduction u/s 80C now becomes taxable.
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