Saturday, May 16, 2015

Tax on Premature PF Withdrawal


  • From June 1, TDS will be deducted on Provident Fund at 10.3% withdrawal before five years of continuous service.
  • TDS will not be applicable if the Provident Fund withdrawal is less than ` 30,000.
  • TDS will be deducted at the maximum marginal rate of 30.6% for employees without PAN card.
  • Even those with a PAN Card will need to refile their past ITRs where deductions were claimed against EPF contributions.

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