TDS Deduction on PF Account and EPF Saving Tips

A Complete Guide on TDS Deduction Rates / TDS Exemption details on PF Account…
EPF Saving Tips, TDS Deduction on Provident Fund (PF), TDS Exemption of Provident Fund, Tax Deduction when they have not completed the period of Time.

An employee can made up of the Provident Fund (PF) account during the employment period. An employee can deposited 12% of the money from their basic salary to the Provident Fund (PF) account. PF Withdrawl from EPF account is not allowed when the employee is still during the work. But in case of emergency, an employee can withdrawl the amount from their Provident Fund (PF) account.

An employee can withdrawal the amount when they doing job and they have not transfer the PF account. There are some provisions related to TDS, when the employee withdrawl from the Employee Provident Fund. And also in some cases, Employee’s will be exempted to pay the TDS on withdrawl of Epf amount from their own account.

TDS Deduction

TDS Deduction Rates on Withdrawl of EPF amount on their account

  • An employee can withdrawal more than the limit with submitting the PAN card details and 15G/ 15H form, they have to pay the TDS at 10% rate.
  • If an employee fails to submit PAN of Form 15G / Form 15H they can pay the TDS at the maximum marginal rate of 34.608 percent.
  • TDS will be deducted at the time of payment of PF amount under section 192A of Income Tax Act, 1961.
  • Form 15G is for the Individuals of below 60 and have no taxable income.
  • Form 15H is for the Senior Citizens of 60 years and above.
  • 15H/ 15G both are the self-declaration froms.

TDS Deduction / TDS Exemption / Benefits of Employee from EPF Provident Fund Account

  • When an employee can doing the job, they can transfer the old Provided Fund (PF) account to new Provident Fund account.
  • When an employee discontinues/ not doing the job due to Sick.
  • When the employer can closed the business, they don’t have to pay TDS on their PF account.
  • When an employee working in contractual basis / working on project, there will be 0% TDS Deduction. These employee’s can withdrawl the PF amount after the completion of contract/ project.

An employee has not completed the 5 years of the working service, they can withdrawl the amount of less than Rs.50000 from the PF account, there will be no TDS. Now the limit is extended from Rs. 30,000/- to Rs. 50,000/- If, these employee can withdrawal more than / equal of amount Rs. 50,000. They can submit the form 15G / 15H and also the PAN card details, there will no TDS have to pay the employee.

Pay your EPF Online Payment or EPFO Online Payment at Esewa website unifiedportal-emp.epfindia.gov.in

EPF Online Payment or EPFO Online Payment will paid now at Esewa website unifiedportal-emp.epfindia.gov.in……
EPFO, India provides Online Payment is mandatory for all private sector employees to have an EPF (Employee Provident Fund) account. The EPF Online Payment will be available in All Government Sector Banks like SBI, Punjab National Bank, Andhra Bank etc. Instead, you can make use of the EPFO online payment facility. Read on to find out how. There are lot of EPF Online Facilities provided by EPFO. Each and Every Employee or Pensioner can get EPF Payment through online.

Each and Everyone can get EPFO Online payment through Bank Challan and TRRN (Temporary Return Reference Number) has been mandatory by EPFO. If the fresh employee who are need to EPF Registration or UAN Activation everyone must logon into E- Sewa Portal. In that portal Registration option will be available in footer of the website. Click on Application for Employee Registration. Then Fill the application as per guidelines. Then you can activate it.

How to Pay EPF Online Payment

Every employee must have any authorized Government Banks listed in E-seva portal you can make the EPF payment online. If you already have a Corporate account like SBI, Bank of India, HDFC Bank, Bank of Baroda, etc., then you can easily get the EPFO payment online facility. If the Employee or Pensioner can have online banking facility that facility is useful to transfer the amount online from your government bank account to EPFO’s Account.

Online EPF Payment

Now Coming to the point in this article we will give the brief guidelines on How to Pay EPF Payment through online mode. Follow the below instructions you can get easily how to know the payment via online…..

  • First of all Sign into the E-sewa website https://unifiedportal-emp.epfindia.gov.in/epfo/. Then you must enter your Unique Username and Password.
  • After loading the page you can under the Payment option, click on ‘Payment (ECR)’.
  • Download the last month ECR in CSV format (Excel Sheet).
  • Enter the details in the columns and save the file as a text file (*.txt).
  • Then you can upload the text file and click on ‘Proceed’ button.
  • In the Payment section, it takes those extra charges like Administrative charges for PF (0.85% of Total EPF Wages – minimum INR 500/-); Administrative charges for EDLI (0.01% of total EDLI wages – minimum INR 200/-).
  • You can Generate the Challan form by clicking on ‘Generate Challan’. On the same webpage you will find the TRRN. Download the Acknowledgement slip and Challan receipt.
  • Select the Payment Option as ‘Online Payment’.
  • Now Select your bank using Online Payment. You can pay through online you can get the debited amount message to your Mobile.
  • You must keep the ECR and TRRN for future reference. Please a Take a Print out after the completion of Online Payment

For More details please visit EPFO official website i.e e-Sewa Portal.

How to EPF Withdrawal or EPF Tranfer the PF Amount with Interest rates

Transfer the PF Amount through EPF Withdrawal or EPFO Withdrawal with Interest rates….
An employee can made up of a Provident Fund (PF) account during his period. Those candidates can deposited 12% of the money from their basic salary to the Provident Fund (PF) account. We have provided some steps, for how to EPF withdrawal the Provident Fund Amount below.

How to EPF Withdrawal or Transfer Your Employee PF Amount

  • You can withdrawal the amount from your PF account, when you doing the job and you don’t have transfer your Provident Fund account. You can EPF withdrawal the amount by the following ways…,
  • By Using UAN : If you have an Universal Account Number (UAN), you can directly withdrawal your PF amount by using the Form-19, available at Employer / You can download it from the official website of EPFO i.e http://epfindia.gov.in.
PF Withdrawal

Withdrawal from the Regional Office:

You can also EPF withdrawal the PF amount from the Regional Office. Follow the below steps and withdrawal the amount easily.

  • Take the PF Withdraw Form-19 from the Regional PF Officer / Download it from the official website of EPF.
  • Fill in the form completely in all respects, and attested by any Bank Manager / A Gazetted Officer / Magistrate / Notary Public / Post Master.
  • EPF generally asking a letter for the reason of withdrawal amount, this is only for, they can’t encouraging the fraud applications.
  • You should also attach the proof of employment letter (If available).
  • Then your application form to the Regional office. Once you submitted, you will receive the amount along with the Interest within 3 months from the date of submission of application form.
  • In PF account, an employee gets high interest rates (i.e., 8.75 %) per annum.
    Provident Fund amount is useful to the employee’s after retirement of their job.
  • After completion of the 5 years period, you can withdraw the amount from your PF account without pay of tax. And also you will get the interest of the amount.

If you withdraw the amount in before 5 years of the period, you will pay the tax on the amount of interest. So, don’t withdraw the amount in time of period.

EPFO India Websites List and EPF Online Facilities Providing by EPFO

Employees Provident Fund Organisation EPFO Websites List or EPF India Online Facilities Providing by EPFO….
Employees Provident Fund (EPF) is a Social Security Scheme provided by the Government of India (Central Government). Through this scheme, employees working in the both private and public sectors have to make a monthly contribution which is deducted from their basic salary. Once a person retires, he / she can avail the saved amount and use it as a source of income. Initially, EPF members had to visit EPFO offices in order to get services. However, this is now a thing of the past since Epfindia website has come to the rescue. In this article, we are going to have a look at some of the services available in Epfindia website.

EPFO is the biggest organisation in our Country. Our Government will provides EPF Online Facilities on Employees Provident Fund Organisation. There are lot of websites launched by the Central Government and also each & every state has started a new web portal on EPF or EPFO or UAN. In State wide websites also everyone can know the EPF Status or UAN Status or EPFO Balance Status.

Candidates in the article we will provide the all EPFO Services List and EPF Websites list. EPF Offices are located in all states in India and regional sub offices available in every Town / City / District in India. Additional Central Provident Fund Commissioner take care about one state EPFO offices related issues work flow. Surrounding Regional officers are maintained by RPFC (Regional Provident Fund Commissioners).

EPF Online Facilities

There are total two withdrawal forms provided by EPFO. One is Form 19 (PF Transfer / Withdrawal) and another one is Form 10 C (It is for pensions withdraw).

EPF Online Facilities or EPFO Online Websites list

The following list provides the service wide websites list provided by the Central Government. The list are as follows….

  • EPFO Unified Portal URL: https://unifiedportal-emp.epfindia.gov.in/epfo/
  • ECR Portal: https://epfindia.gov.in/site_en/index.php
  • Employer e-sewa portal: http://www.epfindia.com/site_en/Online_ECR.php
  • Online Transfer Claim Portal for Employees: http://epfindia.gov.in/site_en/OTCP_ForEmployees.php or http://memberclaims.epfoservices.in/check_eligibility.php
  • EPF Employee Login or UAN Login URL: https://unifiedportal-mem.epfindia.gov.in/memberinterface/
  • EPF Payment through SBI: https://www.onlinesbi.com/prelogin/epfoinputdisplay.htm
  • Know your EPF Balance Check at http://www.epfindia.com/site_en/KYEPFB.php
  • Check your Claim Status: http://www.epfindia.gov.in/site_en/KYCS.php

NSDL National Securities Depositary Limits for PAN

NSDL is the first and largest depository in India. Apart from CDSL is another depository formed to store securities or shares in electronic form. It is similar to holding funds / cash in a bank in electronic form. The securities are settled in electronic or dematerialized form to the buyers of shares.

Before setting up in 1996, there used to be bad deliveries happening with physical form of securities / shares.

The risks associated with physical shares such as signature forge, lost in transit, etc. are completely avoided when share transfers happen in dematerialized form. UAN Passbook Download

So, risks that were faced by the investors in dealing with physical shares have become the things of the past. In order to electronic or dematerilaise the physical shares, an investor cannot approach directly but through an agent called Depository Participant (DP).

For further information,please visit official website at https://nsdl.co.in

NSDL not only deals with dematerialized securities but also handles issuance of Permanent Account Number (PAN). One can apply online for obtaining PAN through the website without approaching any agent. Actually the official website is useful to apply PAN Card online visit the website at https://www.tin-nsdl.com. In that website everyone can also correction or updation of your Pan Card with the same Pan number.