I have been a member of PF since May 2005. Please find my service history below -
May 2005 to July 2009 -- company A
Mar 2010 to Nov 2011 -- company B
Jun 2013 to Oct 2015 -- company C(PF balance from A and B were transferred)
Oct 2015 to Jan 2018 -- company D(PF balance from C was transferred)
As seen, my overall service during which I had contributed to PF is more than 10 years. I withdrew the money in May 2018 and TDS has been deducted. Wondering why. Can someone please clarify. Is it because of the breaks in my service?
Under which section TDS is deducted by Company D ? Tax is there on PF withdrawal if you leave job within 5 yrs. Please go through again the working provided by Employer and basis on which TDS is deducted.
Tax was not deducted by company D. I quit my job in Jan 2018 and then withdrew the entire PF money in May 2018.
My question is about why my complete tenure that started in May 2005 not considered for the '5 year' clause? Even if I consider only the duration of my total employment, its easily more than 10 years...
Tax was not deducted by company D. I quit my job in Jan 2018 and then withdrew the entire PF money in May 2018.
My question is about why my complete tenure that started in May 2005 not considered for the '5 year' clause? Even if I consider only the duration of my total employment, its easily more than 10 years...
The EPFO has amended rules to allow subscribers withdraw up to 75% of the accumulated EPF corpus after one month of quitting a job. The subscriber can withdraw the remaining 25% after unemployment for more than two months
Thanks for trying to help, but, I am still not clear about answer to my earlier query...
"My question is about why my complete tenure that started in May 2005 not considered for the '5 year' clause? Even if I consider only the duration of my total employment, its easily more than 10 years..."
CAclubindia
