Category: EPF Withdrawals

EPF / EPF Withdrawals / Tax

Tax on EPF Withdrawal if less than 50,000

Recently in 2015, Government introduced a clause in Income Tax act to discourage people from Withdrawing PF Prematurely, but it provided certain exemptions like there would no tax if the PF amount is less...

EPF Withdrawals

EPF Withdrawal to fund an LIC Policy

EPF can be also withdrawn to fund an LIC Policy provided some certain conditions are satisfied as listed below Should have completed 2 years of services Only from Employee’s EPF Share (Including interest) To...

EPF Withdrawals

EPF Withdrawal – Other purposes

EPF amount can be also withdrawn for other purposes like the case of natural disasters or due to working being affected due to incessant power cuts or to the physically challenged people to  buy...

EPF Withdrawals

Form31 – EPF Advances

Though EPF Organization strongly discourages withdrawing EPF before retirement, This Form 31 can be used to Withdraw Advances against your PF account in these circumstances Buy a House Buy a Plot of Land Build...

EPF / EPF Withdrawals

Form15G for EPF Claim Withdrawal

Some questions about Form15G are addressed in the below post 1.Is Form15G for EPF Claim necessary? If you service is less than 5 years then it’s necessary but if your service is more than...

EPF Withdrawals

What’s the rate of Tax on EPF Withdrawal?

EPF Withdrawal are taxable depending upon Member’s PF Contribution years and  – http://www.epfguide.com/tax-epf-withdrawal/   And if the Member’s service is less than 5 years then the EPF becomes taxable unless Member has one of the...

EPF Withdrawals

Tax on EPF Withdrawal

Many People think EPF Withdrawal is not taxable but it’s not true in certain cases. EPF amount withdrawn can be taxed only in the below condition If the Total Accumulated Service is less than...