Pf withdrawal

SSK_2019_DEV (Querist) 08 April 2021 This query is : Resolved
I have been working since last 20 years, during my tenure my first company had PF with the EPFO office for the first 12 years, after which I moved to a company which had exempted PF trust for 5 year and then moved again to a company which had PF with EPFO for 3 years after which I have resigned and no longer working. I want to withdraw my PF now, I understand if the PF withdrawal is is done before completing 5 years is taxable, in my case will the 5 years of exempted PF be considered as period of service?

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Quick Summary

This discussion clarifies PF withdrawal rules for individuals with a long employment history across different companies, including those with exempted PF trusts. The consensus is that if you've accumulated PF for over 5 years in total, even across different employers, your withdrawal is unlikely to be considered taxable. It's also advised to keep your PF account active and transfer funds rather than withdrawing, unless absolutely necessary due to unemployment.

Sankaranarayanan (Expert) 08 April 2021
Even you change jobs, try not to withdraw the EPF amount and transfer it to the new account at your new company then No tds

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SSK_2019_DEV (Querist) 09 April 2021
Yes I have been following the same of getting the PF transfered, but now I am out of work for long (+1yr) and so was planning to get the PF withdrawn, hence was the question.

Sankaranarayanan (Expert) 09 April 2021
As for as your issues is concern you are servicing more than 25 years even you servicing different institution

krishna mohan (Expert) 09 April 2021
UIN is portable and hence if you have not opted for settlement with each employer it will be a continuing account. You can withdraw money for some specific purposes. Visit website of EPFO and apply withdrawal online. Since pension is attached to PF account do not close the account to get pension benefit.

T. Kalaiselvan, Advocate (Expert) 22 May 2021
You can withdraw the PF amount accumulated into your account so far.
It will not be considered as less than 5 years because you have started your PF account more than a decade ago.
Hence it may not attract the provisions of income tax.

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