![]() The main reason for this is mismatch of personal details (like name or Date of birth) given in EPF UAN and PAN database (IT department).īecause of this, the EPFO is levying TDS on EPF full withdrawals. I have observed that many of the EPF members are unable to get their PAN digitally verified in EPFO Unified Member Portal. In case, employee withdraws amount more than with service less than 5 years but submits Form 15G /15H along with his / her PAN.ĮPF Withdrawal Claim & applicability of TDS How to submit EPF Withdrawal Claim Form 15G online?.If PF withdrawal amount is less than Rs 50,000.If on discontinuation of Business by the Employer or any cause beyond the control of EPF Scheme’s member (Employee).On Termination of service due to ill-health of EPF member and withdraws his/her accumulation.On Transfer of PF from one account to another PF account (EPF A/c).TDS is not applicable in the following cases In this post, let us understand – When is TDS applicable on EPF withdrawals? What are the rules related to TDS on payment of EPF Claim? How to avoid TDS on PF Withdrawal if PAN is not verified on EPF Member Portal? How to fill and submit/upload Form 15G? What is the procedure to submit EPF Withdrawal Claim Form 15G or Form 15H online? EPF Withdrawals – Provisions related to TDS In such a scenario, (if eligible) you can submit Form 15G/15H to avoid TDS being levied on your PF withdrawal amount. If your EPF withdrawal amount is more than Rs 50,000 and PAN has not been verified in EPF portal then TDS will be applicable in most of the cases. So, TDS is not applicable if the PF withdrawal amount is less than Rs 50,000. The TDS threshold limit has later been raised to Rs 50,000 in 2016-17. In 2015, the EPFO had issued a notification that TDS would be applicable on EPF full withdrawal Claims where accumulation (balance) is more than Rs 30,000 and the EPF member (Employee) has worked for less than Five years.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |