PPF & FPF
In case, any employee after its resigning from the present job in private sector, he/she wish to withdraw the entire PPF amount (as moving into another overseas job) , whether the entire amount will be settled during notice period to the employer or it will take extra time to settle dues(PPF)? Secondly, is PPF amount is taxable? Appreciate if someone advice me. more
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Dear Mr Uday Joshi PPF and EPF are entirely different from each other. EPF applies in the case of employment and PPF account can be opened by any person irrespective of employment. Tenure of PPF is 15 years and before it you can withdraw only a partial amount after 5 years of completion of your contribution in PPF account and that withdrawal is tax free. In case of EPF you can withdraw the amount during notice period but if you have not completed 5 years term in EPF then the amount withdrawn will be taxable in your hands. more
May 16
In case of EPF the withdrawal will be allowed during the notice period. It would be payable after your resignation is accepted. This amount will be taxable if it is withdrawn before the completion of 5 years from joining of this fund. And the PPF account can be continued even after one becomes an NRI. more
May 15
PPF ( Public Provident Fund ) has nothing to do with the employer . It has to be dealt with separately as per its rules . more
May 15
Pl clarify whether u mean Employees' Provident Fund (EPF) or PPF, which means Public Provident Fund. I presume, it is EPF u r referring to. U r entitled to get back with interest, the entire amount contributed to ur EPF account through ur Employers by applying for the same on resigning, n no Income Tax is applicable on refund. more
May 15
