PF complete amount withdrawal

1 you can withdraw your EPF amount I.e. employee as well as employer contribution from your account i.e. 70% within 1st month of retirement and rest in 2nd month.

2 the amount withdrawn from EPF account will not be taxable since you have served for more than 5 years in a single company and such income will be exempt.

3 you cant withdraw pension scheme amount i.e. EPS since you have worked for more than 10 years so you will get pension out of it later on but you cant withdraw it.

I am not sure about the process of withdrawal but I have read that if you have linked your Aadhar card with EPF and bank account process will become faster, you just need to fill one form provide Aadhar number, PAN number, EPF number, UAN number and a cancelled cheque so the amount will be transferred directly in your account.

Hope this helps if you find it helpful do rate it 5 and provide your valuable feedback for my improvement.

Thank you

Dear Sir/Madam,

You are eligible to withdraw your PF amount and it will take approx 1-2 weeks to credit the same into your account.

PF withdrawal after 5 years of employment is exempt from Income Tax and for Gratuity there are some conditions (Formula) provided by Income Tax Department.

Thanks,

CA Sourabh Pahuja

Hi,

Please find below the response to your queries.

1. Yes you can withdraw your EPF amount.

2. No the amount withdrawn from EPF account will not be taxable if you have been in service for 5 consecutive years.

3. Gratuity is exempt upto a certain extent

Regards

Nikhil.

Hi

1.Yes you can withdraw you pf amount completely.

2.Not Taxable

3. Exempt up to limit.To be calculated.

Hi,

- Yes you can withdraw the whole amount.

- No. There is no taxation on PF withdrawal after completing 5 years of service.

- I think within 15 days amount will be transferred to your bank account.

- It depends on the calculation as specified in the law.

Thanks

Dear Sir,

Hope you are doing well !

1. Yes, you can withdraw whole amount.

2. As you have already completed 5 years of continue services. Now, no tax on on PF withdrawal. It is exempt as per income tax act.

3.The statutory time limit for your claim to get processed is 20 days.This 20 days time limit is the time between EPFO receives it and the amount crediting in your bank account.

Please make sure that your KYC needs to be updated with PF portal.

4. It totally depend on the calculation as specified in law.

Thanks & Regards,

Payal Chhajed

Dear Sir,

1. Yes, you can withdraw.

2. No, PF amount is not taxable. No tax on PF withdrawal 5 years of continue services.

3. Approx 15 to 20 days.

4. Gratuity is taxable as per rules specified under law.

Congratulations and good luck for the new venture. You really had a long stint as an employee.

1. You can only withdraw PF amount. Pension can be withdrawn after 58 years.

2. This PF amount is not taxable.

3. After leaving your current job, in case you have not joined anywhere as an employee you need to submit an application asking for withdrawn declaring that you are no more an employee. Once this is submitted it may take around 2 months for the money to get credited.

3. Gratuity is exempt upto 20 lakhs if your employer is covered under PAyment of Gratuity Act.

Hi

1. Yes, PF can be withdrawn.

2. PF shall be exempt.

3. It will take a minimum of 2 weeks.

4. Gratuity exemption needs to be calculated.

The least of the following is exempt from tax:

i)Last salary (basic + DA)* number of years of employment* 15/26;

ii)Rs. 20 lakhs (which has been hiked from Rs. 10 Lakh as per the amendment);

iii)Gratuity Actually received