TDS on PF Withdrawal

[Harsh_Vardhan]

I requsted for withdrawal from my previous firm (A) where I worked for 14 months. After checking my records I discovered that all my PF from my earlier two employers (B & C), before (A), had also been transferred into the fund making the total fund life of approx 6 years in these 3 companies. However a TDS deduction @ 30% was made on the full amount. I was told that I had to serve in the same cmpnay for a period of 5 years or more to get the tax excempt. Is it true? Is it minimum 5 years as a PF member continuously without break irresepctive of number of companies in those 5 years or is it 5 years in the same company? Also whether the TDS is deducted on the full amunt or only the employers contribution.

Could someone please share the right information as to what is the rule for IT deduction on PF.

[jps50]

The best solution is to consult a CHARTERED ACCOUNTANT for this purpose, He will also guide you how to get back TDS amount etc, if deducted. His advice will be much more valuable than his small fee.