Taxation of EPF on closure of account

bobby (Others) (55 Points)

20 June 2024  


  I had worked for a private company from 01-07-2006 to 20-05-2013 and then in another private company from 10-09-2013 to 14-11-2013, and a third company from March 2014 – September 2016. The employer's contribution and employee's contribution in every year was less than Rs. 50000.

  I closed my EPF (total sum Rs. 42136) and EPS (total sum Rs. 15300) accounts in FY 23-24, and withdrew all the amount.

  I would like to know whether the employer's contribution, employee's contribution, interest on employer's contribution, interest on employee's contribution, and EPS is taxable or not. If it is taxable, which component is taxable under which heading in ITR? No TDS has been made till date.