Experts!!! Pls share the new PF withdrawal rule

Hello friends

Pls clarify withdrawal rules as there is confusion now. The rule keeps changing by the week.

My date of birth is 29th Mar 1962 and i have completed 54 years of age just last week. I live in chennai. I had worked for 5 yrs and 2 months continuously in a company and had resigned and got relieved on Dec 9, 2015. I am not going to work after that and i do not seek to be in a permanent job in future. I have my PAN mentioned in the forms and i am a honest tax payer all the years. My company had filed for my PF withdrawal on the 25th Feb 2015 with EPFO to refund the entire corpus to me. The PF total corpus ( incl employee + employer + interest ) is expected to be over Rs 20 lakhs. I have heard that if I have completed 5 yrs of completed service and if I am not working for more than 2 months after relieving, there will not be any tax and I will get 100% payment. Still thought of clarifying with someone who is an expert. My questions are

- Will i be refunded to withdraw 100% of my and company contribution
- Will there be any TDS on this refund amount. If yes, is there anyway i can avoid the tax on refund. Like i can take back my refund application and refile it after i become 58.
- If i do that, will i get interest for the next 4 years. Pls clarify. Thanks for your kind reply.

Regards
Vetrivel R
Chennai
95 66 22 4321 more  

View all 6 comments Below 6 comments
You can get your entire amount of your pf accumulations and your amount will not attract any TDS as Mr. Sanjay said. Please go ahead with your refund. Still you have any doubt on this, you can go to the PF office and meet the PF commissioner to clear all your doubts. more  
Mr Vetrivel R has questions which appear to be applicable for quite a few members in the age group of 50 +. If his questions can be answered by an expert in this area, it would help many people. Thanks more  
Dear friend I have receied full refnd almost same time as you have applied for and similar case plz followup with epfo you are entitled to get all mony without TDS..just go to pf office and meet asst commissioner and he will help you out. This is my experience with pf office more  
Most of the honest tax payers only suffer most in India.We are milking cows for the Govt. more  
Mr Subodh Kumar Assistant Manager (Slitting) Uflex Limited (Packaging Division) A-1, Sector 60, Noida-201301 Phone No. : +91-120-4002651 Mobile No. : +91-9811967507 Your change of email ID has nothing to do with the problem faced by Mr. Vetrivel Rajupillai (Senior Management in Private sector). Please try to help Mr. Vetrivel Rajupillai (Senior Management in Private sector) if you have any information on the subject more  
Post a Comment

Related Posts

    • When EPF Portal will be able to serve people online?

      EPF Work is for namesake online but practically it hardly serves to 5-10% people, otherwise of this portal of no use. It requires you to visit PF Offices despite of all documents uploaded and accep...

      By Vinod Kale
      /
    • Recovering EPF Payment grievance

      I have EPF payment due for my service as on Dec2019, due to certain personal reasons I could not take up further employment and I attempted to get back the payment due to me in December 2012 but th...

      By Nishith Kumar Mukherjee
      /
    • EPFO AND CONSUMERS

      Sorry to write about the dis satisfying performance of EPFO.. ITS GOVT ORGANIZATION, HENCE SOME DICTATORSHIP SMELLS THERE,THEY DONOT RESPOND TO ANY PROBLEM. IN MARCH 2009,MY FAMILY PENSIO...

      By Satyapal Singh
      /
    • Withdrawl of PF

      I lost my job after May 2020. I want to withdraw my PF but I am unable to do same because my company has been liquidated n the IRP appointed by NCLT has not authorized anyone as authorize signatory...

      By Ravi Rai
      /
    • EPFO may fund startups

      The EPFO should note that it is a custodian of the money which people who are saving for the retirement. You are not supposed to behave like a financier to fund startups.

      By Satvik Singh
      /
    • Scheme certificate cancellation from RPFO Delhi- central

      I had submitted Scheme certificate at RPFO cuddapah at the time of submisstion of Form 10D for EPF monthly pension in the year 2017. RPFO cuddapah sent letter to RPFO Delhi-North asking cancellat...

      By K R S S Murty
      /
    • Your EPF claim.

      Can you share your EPF Account number? (State/Organisation code number / your account no).

      By MANDALIKA Surya Narayana Sastry
      /
    • EPF not claimed from 1996

      Sir, I was working in a pvt ltd company in 1996 with whom I have my EPF dues. How can I get my EPF now and to whom to contact to know the procedure? Thanks & Regards

      By Debabrata Nayak
      /
    • EPFO has some fraudsters need audit

      Officers tend to form nexus with crooks to fraudulently withdraw PF money from dormant or active accounts. This case in Mumbai is concerning and I have a feeling we have hundreds of such cases acro...

      By Satvik Singh
      /
    • Online withdrawal rejection

      I had UAN linked to Aadhaar/PAN/bank account but still online request got rejected showing same account linked to other UAN etc (my old UAN before new EPFO portal came up). God knows what can ...

      By Shibdas Mallick
      /
    • Change in pension withdrawal rules coming

      Soon, the EPFO will allow withdrawal of pension contribution only after 2 years of exiting from your previous job. Right now, pension sum can be withdrawn after 2 months of leaving a job.

      By Satvik Singh
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)