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PF withdrawal before 5 years

Others 280 views 4 replies
Is there any way out from paying tax on PF withdrawal. one of my friend resign from Pvt. sector company and join Govt. job. He has no option to switch PF account. Only option to withdraw. Now company wants to deduct TDS. Plz give me any way out from tax
Replies (4)
Yes it is taxable if he withdraw before 5 years. so better leave the amount of PF with them or can be transferred to another company if he joins. Or if he is not willing to join new job, better to withdraw after completion of 5 years.
Thanks for your response..... please consider...He has resigned from company before completion of five years. there is no option to transfer account. Now what is the way out to exempt from tax. Is it possible that 50% withdraw in one year and 50% in another year. Or any other way out... please suggest
No he should wait for 5 years for withdrawl to save the tax. He can keep the amount with the company.
Ok thank u sir..... R u sure that.... I have resigned before 5 years... but amount in PF retain for more than 5 years then No tax. To whom I have to request?


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