The Hindu Business Line : PF transfer on job change

I RESIGNED from a company two years back and have taken up employment with another company. I have not transferred my provident fund balance from the previous company to the one I have joined.

I am now aged 46. If I withdraw the money from the PF Account of my first employer will it be taxable? Will the interest accumulated in this account and now withdrawn be taxable?

O. K. Joseph

Reply

The accumulated balance payable to you from a recognised provident fund will be exempt provided you have rendered continuous service with your former employer for five years or more. The interest now withdrawn will also not be taxable.

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