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Anil Rego | Answer |Ask -Follow

Financial Planner - Answered on Oct 27, 2023

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by Bela on Oct 14, 2023Hindi

Money

I have less than 1 lakh in my EPFO and I have served around 2 years last job being in 2020. I want to take out the money do not intend to work in private organization and my age being around 52. How should I withdraw so that the amount does not attract tax .

Ans: PF withdrawals in cases where contribution is not made for a continuous period of 5 years is subject to tax. If there was a previous organization you worked for, you can consolidate the same and if the period crosses 5 years, it will be tax free.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Ans: Request you to kindly rephrase your query.

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I am 49 years old. I have EPF of 1.32 crores. I have retired from corporate life to build a start up. I left jon in August 2024. 1. Please let me know if i can withdraw entire EPF? 2. What is the tax i need to pay. Thank you.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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