Hi, The tax on EPF which is initiated by FM...is it to be paid by Employee or the company will debuted itself

Ans: Hi Satya
Under the new tax regime, EPF is not taxable but a deduction for the contribution is not available

Ans: No. It is very fine as it is being deducted and deposited based on the 12% limit of Rs 15K.

Ans: Hello;

The lady at the EPF office has given you the correct feedback.

No TDS is applicable and withdrawal is tax exempt after 5 years of cumulative service period.

Best wishes;

Ans: About EPF Continuous Service -Since you’ve been contributing to EPF for 20 years across different companies, your overall service with the EPF remains uninterrupted.
About Tax-Free EPF Withdrawal- According to EPF rules, if you have completed 5 years of continuous service (which includes service across multiple employers without withdrawing the balance between jobs), your EPF withdrawal is tax-free. So, despite changing jobs, your service duration with the EPF is counted collectively.
Since you've been contributing for 20 years without breaking the EPF continuity, your withdrawal will not be taxed. You can withdraw the EPF corpus of Rs 25 lakh without worrying about it being taxed at your income tax slab rate.
However, if at any point your EPF service was discontinued and restarted (without a transfer of funds between accounts), the period might reset, leading to taxation concerns. If you are unsure, you could consult with your EPF office or a tax advisor to confirm your exact status. Think about linking all the old accounts in to the current account so that your continuity of service can be verified by PF authorities. Now EPF office have started unified account and you linking your old accounts to the latest account will give you combined value and tax benefits. within my Prosperity Lifestyle Hub community we share such topics to get our financial challenges resolved.
Best regards,
Nitin Narkhede
Founder & MD, Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar