Interest payment & tax implication for withdrawal of EPF
I left my job in Aug 2020. When I checked my EPF statement online, I found that the interest payment has not been credited to my account. I was directed to link my Adhaar. I did so. But when I checked again recently, no interest payment was credited.
Please correct me if I am wrong but (1) I am eligible to get interest payment for at least further 3 years, assuming I am not employed during the entire period?
(2) I am 56 now. What are the Tax implications in case I withdraw my EPF today, when I'm 58 Yrs or when I'm 60 Yrs., assuming I'm not employed during this entire period.
Thanks
J Mehra more
Please correct me if I am wrong but (1) I am eligible to get interest payment for at least further 3 years, assuming I am not employed during the entire period?
(2) I am 56 now. What are the Tax implications in case I withdraw my EPF today, when I'm 58 Yrs or when I'm 60 Yrs., assuming I'm not employed during this entire period.
Thanks
J Mehra more
Viewed by 415
You are eligible for PF interest upto 3 years after stoppage of employer's contribution (retirement or leaving service). However interest amount added post job closure is taxable. FY20-21 tax credit may take some more time. Wait for it. more
Nov 09
In your case, as you have retired after completing 55 years of age, you shall receive interest up to 36 months from the date of your retirement. It may be noted that post completion of the above referred 36 months, it is not mandatory to close your PF account. You can keep the account open. It must be noted that accumulated balance up to the age of 58 years or end of employment is not taxed.. more
Nov 05
Interest for FY20-21 has not been credited into PF accounts yet. I understand that there is no tax if the PF account is atleast 5 years old more
Nov 04
