Withdrawal of PF Amount

Q & A Forum › Category: Provident Fund (EPF & PPF) › Withdrawal of PF Amount

gopalm asked 9 years ago

Hi Sreekanth I am amazed to see the kind of resource you have created. I really respect it and congratulate you for the same. Also, the way you have answered in comments section and on this form...I run AchhiKhabar.Com and I know how much effort it requires. My queries are: I worked as under:

Tata-AIG (2008 - 10),
HCL(2010-2012),
CSC(2012-15)

I do file ITR of around Rs. 5.5 lacs every year. I committed the mistake of not transferring my PF amount from one organization to another. And I have not consolidated them even now. Now, I have to buy a property. Can I withdraw my Tata-AIG PF amount completely? If yes, will I have to pay a TDS of 10%? Or is there any way to save it? And, my last question: Has there been any phase for my Tata-AIA and HCL PF account during which they did not earn any interest? ( I read there was some rule like this that dormant PF accounts won't earn any interest) I will be grateful for your reply. Regards, Gopal Mishra

gopalm replied 9 years ago

Forgot to mention that now I am self-employed and I run my website AchhiKhabar.Com

1 Answers

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Sreekanth Staff answered 9 years ago

Dear Mishra Ji, Thanks for the appreciation! I have just visited your Blog, you too can see lot of efforts have gone into building your website..cheers! In case, you withdraw the funds individually from respective EPF accounts, TDS can be charged, as the service period on each count is less than 5 years. So, may be advisable to consolidate the EPF accounts and then withdraw the funds. You may have to create UAN by yourself then apply for transfer/withdrawal. Quoting of UAN is mandatory. Suggest you to kindly go through below articles ; https://www.relakhs.com/consolidate-old-multiple-epf-accounts/ https://www.relakhs.com/inoperative-epf-account-trace-old-epf-ac-online/ https://www.relakhs.com/interest-inoperative-epf-accounts/ https://www.relakhs.com/epf-withdrawal-tds-applicable-new-rules/ https://www.relakhs.com/new-epf-composite-claim-form-single-page/

gopalm replied 9 years ago

Thanks dear, you made my day 🙂