Pf Guideline Paper

Topics: Tata Consultancy Services, Progressive tax, Taxation Pages: 2 (393 words) Published: September 6, 2011
Instructions for Filling PF withdrawal Form

1. As per Employees’ Provident Fund and Miscellaneous Provisions Act 1952, you can only withdraw your PF in the eventuality of one of the listed in the PF withdrawal under Serial No. 9. In the event that none of the 4 reasons apply to your circumstance, you will need to compulsorily transfer the PF fund to the new organization.

2. Against Serial No. 01 to 08 of the form, enter the required TCS specific details.

3. If you intend to withdraw your PF, select the applicable under Serial No. 9 of the form. If you select the “Unemployed for 2 Months” reason, it is mandatory that you sign the declaration following Serial No. 9.

4. Note that if you are currently working in an organization that is covered by Employees’ Provident Fund and Miscellaneous Provisions Act 1952, you will need to transfer your accumulated PF & PF - Pension accounts. For such a transfer you will need to fill in a duplicate Form 13 issued by your current employer and send it to following TCS address.

5. Note that the PF amount, if withdrawn is subject to applicable taxes, if your contributory service (inclusive of service rendered in the previous employment provided the PF is transferred to TCS) is less than five years.

6. Please note that the average tax rate is considered when processing your claims. The possible range of average tax is where between 15% - 30 % depending on the tax liability against your total taxable income for the 3 years preceding your date of resignation.

7. Please note that after the settlement PF amount will be credited to TCS salary bank account. If incase you had closed your TCS salary bank account, you need to attached one cancelled cheque leaflet of new/active bank account along with application form.

8. In Advanced Stamped Receipt section, you will need to attach a revenue stamp and sign across it. In case, you fail to procure a revenue stamp, you will need to include your...
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