Namaste,
I worked in M/s Titan Industries Ltd from August till September (PF contribution was for 33 Months) where I had my PF in M/s Titan Industries Ltd Trust. (Amount accumulated in M/s Titan is around Rs. 57, 000)
In October I switched to M/s HCL Technology and even I transferred my PF amount from M/s Titan Industries to M/s HCL Technology trust and left M/s HCL Technology in 8th March (PF contribution was for 17 Months) (Amount accumulated in M/s HCL Technology is around Rs. 28, 000)
Total PF contribution was for 50 months i.e. 4 years 2 months. In this time total accumulated amount in M/s HCL Technology trust (From HCL and Titan) is Rs. 85, 000
Now I want to withdraw my PF from HCL Technology trust when I asked them for withdrawal I got a massage stating tax at 30% and 3% cess will be deducted from the final PF amount if I am not contributing to the PF account for a minimum of 5 years.
Please let me know is this right?
Yes my PF account is not 5 years old. But it’s my hard earned money.
Even every year I am paying annual tax properly to Income Tax department.
1. If PF account is less than 5 years then Tax of 30% and Cess 3% will be deducted for final amount?
2. Tax of 30% and Cess 3% is only for the interest accumulated for PF amount or on Complete PF net amount?
3. I can open PPF and transfer PF amount to that so that my tax will not get deducted?
4. I have seen people are getting complete PF amount this tax deduction is because I have my PF with HCL trust?
How I can get this full amount.
Please help me in this matte
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