PF Withdrawal Consultant / Agents near me

pf withdrawal agents or consultant near me

PF Member Claims

  • PF Advance Claim
  • PF Final Withdrawal Claim (Resign from job)
  • PF Pension Fund Withdrawal (Service Period More than 6 months and Less than 9 years 6 Months)
  • PF Pension Claim ( Service Period more than 9 Year 6 Months)
  • PF Transfer Claims
  • Full & Final EPF Withdrawal
  • Any Correction of PF Account

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Yes, PF contributions are tax-deductible under Section 80C of the Income Tax Act, 1961.

If salaried persons wish to withdraw their EPF accounts, they have to submit form 19 to their ex-employers, who in turn, have to sign and attest it. To complete the withdrawal procedure, members have to submit various other documents, namely, resignation letter and a cancelled cheque in addition to form 19 to the EPFO.

No, you Can’t. for any others contact PF Withdrawal agents or consultant for advice.

  • Aadhaar card copy
  • PAN Card copy
  • Cancelled Cheque leaf/ bank details
  • Form 15-g for above 50k Amount

For Medical Purposes:

  • An employee is allowed to withdraw employee’s share with interest or six times the monthly salary (whichever is lower) from the provident fund for the medical treatment purpose.
  • It is applicable for medical treatments of self, spouse, children, and parents.
  • There is no lock-in period or minimum service period for this type of withdrawal.

For Wedding:

At least 7 years of service is required to be completed to be eligible for pf withdrawal agents

50% of the employee’s contribution with interest can be withdrawn.

An employee can withdraw funds for his own, siblings or child’s marriage

For Renovating and Reconstructing a House :

  • The employee can withdraw funds from his EPF account for the purpose of renovation and reconstruction.
  • The house should be held in his/her name or held jointly with the spouse
  • The employee must complete at least 5 years of total service
  • The member can withdraw 12 times his monthly salary from his Provident fund account

For Purchasing or constructing a House:

  • The member can withdraw from his employee provident fund for the purpose of purchasing a plot and constructing it.
  • The property should be registered in his or her name or held jointly with a spouse.
  • An employee should complete a minimum of 5 years of total service.
  • 24 times of the monthly salary for purchasing a plot/36 times of the monthly salary for purchasing or constructing a house or the cost of the property or the total of employee’s and his employer’s share along with the interest amount (whichever is less) can be withdrawn.
  • Withdrawal is allowed only after completing 5 years of service
  • Withdrawal for the purpose of purchasing a plot and constructing it can be done only once in the entire service tenure.

Retirement :

  • A person can withdraw his or her entire provident fund corpus after completing 58 years of age.
  • The employee is allowed to withdraw up to 90% of the provident fund balance.

Unemployment:

  • A person can withdraw 75% of his or her provident fund if worker unemployed for more than a month.

EPF Withdrawal Rules before 5 years of Service

EPF withdrawal before 5 years of continuous service attracts TDS on the withdrawal amount. However, if the withdrawal amount is less than ₹ 50,000, no TDS is deducted. In case you want to withdraw your funds before 5 years of service, you should keep the following EPF withdrawal rules in mind:

  • As per the latest modification in ITR Forms 2 and 3,  has to provide a detailed breakup of the entire amount deposited in the PF account every year.
  • This will help the Income Tax Department to assess whether the withdrawal made by you is taxable or not.
  • The department will also check whether additional tax has to be paid by you after revaluation.
  • EPF contribution is done in four parts – Employee’s contribution, employer’s contribution and interest on each deposit.
  • If the employee has claimed an exemption on EPF contribution for previous years as per Section 80-C, all four parts will be taxable.
  • If the employee has not claimed an exemption in the previous year on EPF, the employee’s contribution part will be exempted from tax at the time of withdrawal.
  • The tax will depend on the income slab in which the employee fell for that year.
  • The tax will be applicable in the year of withdrawal but the consideration will be done for each year.

EPF Withdrawal Rules after Retirement

  • As per the EPF Act, when a member retires at the age of 58 years, he has to claim for the final settlement.
  • The total PF balance consists of both employees as well as the employer’s contribution.
  • The member also becomes eligible for the EPS amount if he has served for a period of more than 10 years in continuation.
  • In case the member has not completed 10 years of service at the time of retirement, he can withdraw the complete EPS amount along with his EPF.
  • If he completes 10 years of service, the employee gets pension benefits after retirement.
  • The withdrawal of the corpus accumulated in the EPF account after retirement is completely tax-free.
  • The interest earned on the EPF corpus after retirement is taxable.
  • If the member does not withdraw funds for three years after retirement, he will have to pay tax on the interest

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