Withdrawal of PF required
I left my previous employment in 2014. Currently I am working with another company that I will be leaving on 9th Dec 2016. I had not transferred my previous PF to my current company. Now I will taking a break from job to focus on higher studies. I want to withdraw both my PF's money now. I have not completed 5 years of services.
I have already linked my previous PF with UAN NO. and uploaded bank details and Aadhar on UAN portal.
I have the following queries:
1. Is it possible to withdraw both PFs now?
2. Will any tax be deducted.?
3. What is the procedure to apply for withdrawal.
Any help is highly appreciated. more
I have already linked my previous PF with UAN NO. and uploaded bank details and Aadhar on UAN portal.
I have the following queries:
1. Is it possible to withdraw both PFs now?
2. Will any tax be deducted.?
3. What is the procedure to apply for withdrawal.
Any help is highly appreciated. more
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View all 9 comments Below 9 comments
You can withdraw your pension contributions i.e. employee contribution + (employer contribution - EPS contribution). There is no necessity to put in 5 years of service for withdrawal. This minimum 5 years of continuous service is required only for payment of Gratuity only. Submit form 19 and form 10C through your employer. more
Sep 26
1) It is possible to withdraw both PFs now. However it is advisable to retain as up to next 3 years you can earn interest and after completion of your study when you join new employer you can get these amounts transferred to your account. 2) Tax will be deducted since you have not completed 5 years. 3) I think you can file Form No.19 and you need to get this form signed by your Employer. J.N.Thakkar more
Sep 26
1- 2 months after leaving the current job, you can withdraw both your PF accounts. 2- Yes tax will be deducted because time for which your money remain invested with EPFO was less than 5 years 3- Procedure of withdrawal is fill, attest by respective employer, and submit to approprate PF office the following forms 10C (for EPS withdrawl), and form 19 (for your PF) more
Sep 26
Since you have not completed 5 years of PF contribution, I feel you may not but transfer of PF to your new job is possible with out break of service. more
Sep 26
