Can we withdraw 1000% Superannuation fund on leaving company. What is the procedure. thanks and regards Vikash Jaitly
From India, Kolkata
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1From India, Kolkata
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Dear Mr. Vikash Jaitly,
If your employer has a scheme of providing Superannuation benefits through another Fund management company, the employer will pay its share of 10-15%, depending on the employee's salary. At the time of superannuation, the employee is eligible to withdraw 25% of the available balance, which is tax-free. The remaining percentage will be distributed by the agency and paid to the member on a monthly, quarterly, or yearly basis as chosen by the employee. This amount is taxable. If the employee wishes to avail 100% eligibility, prior consent must be obtained from the Income Tax department.
Thank you.
From India, Visakhapatnam
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If your employer has a scheme of providing Superannuation benefits through another Fund management company, the employer will pay its share of 10-15%, depending on the employee's salary. At the time of superannuation, the employee is eligible to withdraw 25% of the available balance, which is tax-free. The remaining percentage will be distributed by the agency and paid to the member on a monthly, quarterly, or yearly basis as chosen by the employee. This amount is taxable. If the employee wishes to avail 100% eligibility, prior consent must be obtained from the Income Tax department.
Thank you.
From India, Visakhapatnam
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Hi, please go through the following links for more information on superannuation:
- [Superannuation means what?](https://www.citehr.com/367886-superannuation-means-what.html)
- [Superannuation terms PF](https://www.citehr.com/56153-superannuation-terms-pf.html)
- [Superannuation fund PF fund](https://www.citehr.com/147366-superannuation-fund-pf-fund.html)
- [Refusal to pay superannuation fund - What can action employee take?](https://www.citehr.com/165590-refusal-pay-superannuation-fund-what-can-action-employee.html#710871)
For more related material, you can navigate to the right side of the page.
From India, Gurgaon
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- [Superannuation means what?](https://www.citehr.com/367886-superannuation-means-what.html)
- [Superannuation terms PF](https://www.citehr.com/56153-superannuation-terms-pf.html)
- [Superannuation fund PF fund](https://www.citehr.com/147366-superannuation-fund-pf-fund.html)
- [Refusal to pay superannuation fund - What can action employee take?](https://www.citehr.com/165590-refusal-pay-superannuation-fund-what-can-action-employee.html#710871)
For more related material, you can navigate to the right side of the page.
From India, Gurgaon
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