PF Is Taxable Or Not After 22 Months

Hi,

I am trying to determine if the PF amount is taxable or not if I want to withdraw the whole amount after 1.5 years of working. For example, the monthly deduction is Rs. 780, and I have been working for 22 months.

So, 780*22=17160*2=34320+Interest (Just approximate). From the above equation, will I be able to get the whole Rs. 34000+ (If I resign after 22 months) or will it come after tax deduction?

Please help me clear my doubt.

PF contributions accumulated and withdrawn after any period of time are not taxable.

Regards,
Sebastian

PF withdrawal is taxable if withdrawn before five years as per the Income Tax Act. Please get this clarified from a Chartered Accountant.
Paresh Shah.

P.F. withdrawal is tax-exempt. You will receive the entirety of your contribution and only a portion of the employer's contribution if the account is closed in less than 5 years.

K. Viswanathan.

Hi,

Can the employer stop any employee's EPF or deny sharing any information if he/she is absconding?

Thank you, Shakti.

I worked as an employee in a consultancy for about 6.6 months (Sept 20, 2010 - April 4, 2011). I did submit my resignation, but they are claiming it as an absconding case, and hence they are not sharing my EPF Account number with me. What can I do to obtain my EPF Account number?

As per my poll results, 90% say that PF is not taxable under any circumstances. What about the remaining 10%?

Shewta,

Have you received your payslip from your employer, and is PF deduction shown in your payslip?

Yes Shakti, I do have a payslip, and my PF deduction is mentioned in my appointment letter as well.

Shewta,

If your employer completely denies providing the PF number, you can visit your nearest PF Office and meet the PF Inspector in your area. Bring along your Appointment Letter and Payslip, and explain the situation to him. He will definitely assist you with this matter. Before taking this step, revisit your employer and inquire again about the PF. If the employer refuses, inform them that you will escalate the issue to the PF office.

I am certain that following these steps will prompt your employer to take a defensive stance.