Provident Fund

[Guest]

My query is - A person withdraws amount from his EPF after 10 years but he is not retired yet. what is taxability of the transaction

[Mukesh Kumar]

Withdrawal is not taxable after completion of 5 years in service.

[r.rajkumar kumar]

any withdraws from approved p.f. fund is not taxable.the employers contribution is taxable if the withdraws with in finve years service. .

AI Summary

EPF withdrawal taxability: withdrawals after qualifying service period are tax-exempt; employer contributions taxable if withdrawn early. Provident Fund withdrawals after completion of the qualifying service period are not taxable; employer contributions are taxable if the subscriber withdraws before completing the shorter qualifying period, rendering employer contributions taxable on premature withdrawals.