PF Withdrawal Form 19, 10C, 31 PDF Download

PF Withdrawal Form 19, 10C & 31 PDF Download, Epf Form 10 PDF, PF Form 19 Download, Form 19 In Epfo, Form 19 and 10c Download, Form 19 For Pf Withdrawal..

PF Withdrawal Form 19, 10C, 31 PDF Download

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EPF Withdrawal Rules

  • Partial withdrawal from EPF accounts is allowed in case of emergencies like medical emergency, purchase or construction of a house, and higher education.
  • EPFO can withdraw 90 percent of the money deposited in the EPF fund before 1 year of retirement, but their age should not be less than 54 years.
  • As per the new rule, EPFO ​​allows withdrawal of 75% of EPF corpus after 1 month of unemployment and remaining 25% can be transferred to new EPF account after getting new employment.
  • EPF corpus withdrawal is tax free subject to certain conditions. But the benefit of tax exemption is available only if an employee contributes to the EPF account for 5 consecutive years. If there is a break in contribution in the account for 5 consecutive years, the entire EPF amount will be treated as taxable income for that financial year.
  • Tax is deducted on premature withdrawal from EPF corpus, if the amount is less than Rs.50,000, then TDS is not applicable. If an employee provides PAN along with the application, the applicable TDS rate is 10%. Otherwise it is 30% plus tax. Form 15H/15G is a declaration form, which states that the total income of an individual is not taxable and thus, TDS can be avoided.
  • An employee will no longer have to wait for approval from the employer to withdraw money from EPF. This can be done directly from the EPFO, provided the UAN and Aadhaar of the employee should be linked and the same has been approved by the employer.
  • EPF withdrawal status can now be checked online.

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