Dear All,
I am applying for EPF withdrawal through online process, while applying for that I am getting message like: "As your service is less than five years and your verified PAN details are not available under Unified Portal, Income Tax at the highest slab of 34.6% is liable to be deducted if your settlement amount crosses Rs.50,000/-. You are advised to update your PAN details before filing for Online claim and also check your balance before proceeding to submit PF settlement Claim."
My service is over & i have already withdrawn my Pension amount which is aprox 20,000.
My PF balance is almost Rs. 40000/-. I am confused on much tax will be liaved and what will be the approximate amount I will be getting.
I want to know how to calculate PF settlement amount? is it 40000(pf)+20000(pension) = 60000 or only 40000(pf).
Kindly help.
CAclubindia
