difference between tds and provident fund

1. Is TDS deducted on provident fund?
2. Which is better EPF or PPF?
3. What is difference between EPF and PPF?
4. Is TDS applicable on PPF?
5. Can I withdraw 100% pf amount?
6. Can I get TDS refund?
7. Can we save money in EPF?
8. Which provident fund is best?
9. Can I convert EPF to PPF?
10. How is PF amount calculated?
11. Who is eligible for provident fund?
12. What is provident fund in salary?

Is TDS deducted on provident fund?

TDS is deducted @ 10% on EPF balance if withdrawn before 5 years of service. ... If PAN is not provided TDS shall be deducted at highest slab rate of 30%. You can submit Form 15G/Form15H if tax on your total income including EPF withdrawal is nil. TDS is not deducted if Form 15G/Form 15H is submitted.

Which is better EPF or PPF?

Comparison between EPF & PPF

The interest rate on investments in EPF is 8.5 % while it is 7.1 % for a PPF account. The money in the EPF account can be withdrawn when you resign from job. But, the deposited amount in PPF cannot be withdrawn until maturity which is 15 years from the date of depositing the amount.

What is difference between EPF and PPF?

PF is the popular name for EPF or Employees' Provident Fund. It is a government established savings scheme for employees of the organised sector. ... PPF or Public Provident Fund is a government-supported savings scheme. It is open to everyone – employed, self-employed, unemployed or even retired.

Is TDS applicable on PPF?

New rules for tax deducted at source (TDS) have been introduced by the Department of Post if the aggregate withdrawal from all post office schemes is above Rs 20 lakh by investors which also involves PPF withdrawals. ... Also, 5% TDS will be deducted if the amount exceeds Rs 1 crore.

Can I withdraw 100% pf amount?

As per the old rule, 100% EPF withdrawal is allowed after 2 months of unemployment. EPF corpus withdrawal is exempted from tax but under certain conditions. Tax exemption on EPF corpus is permitted only if an employee contributes to the EPF account for 5 continuous years.

Can I get TDS refund?

Tax Deducted at Source (TDS) is the sum that is deducted from a taxpayer's income like salary, interest from bank accounts, rent etc. If the TDS collected is more than what you owe to the government, you can get a TDS Refund.

Can we save money in EPF?

Self Contribution is open to all Malaysian citizens who have registered as EPF members. I am an expatriate/foreign worker with a Malaysian work permit, can I do Self Contribution? No, you can't. ... No, you must register as an EPF member before making Self Contribution.

Which provident fund is best?

Which one is better?

Can I convert EPF to PPF?

you can't transfer your PF account to PPF account because both are different you can transfer you account to your old PF account to new PF account :) through www.epfindia.com/ While changing jobs and joining a new employer, an employee has an option to close the old PF account and open a fresh one.

How is PF amount calculated?

- If you are a man, you must contribute 10% or 12% of your basic salary. - In case you are a new woman employee, it is 8% of your basic salary for the first 3 years. Thereafter, it becomes 10% or 12% of your basic salary. - Your employer has to contribute an amount equal to 10% or 12% of your basic salary towards EPF.

Who is eligible for provident fund?

If you are a salaried employee with a Basic + Dearness Allowance less than Rs. 15,000 per month, it is mandatory for you to be opened an EPF account by your employer.

What is provident fund in salary?

Introduction to a Provident Fund (PF)

A provident fund is a government-managed, mandatory retirement savings scheme used in India, Singapore, and other developing nations. ... A worker gives a portion of his/her salary to the provident fund, and an employer should make a contribution on behalf of the employees.