Looking for PF withdrawal? Here’s how to avoid TDS deduction

 The PF withdrawal rules clearly state that if the EPF/PF account is attached with PAN, the TDS deduction rates stand at 10 percent while in the case of EPF accounts without  PAN, the TDS rate stands at 20 percent. 

Are you looking to avoid tax on your PF withdrawal? It is important for one to understand a basic fact that a Provident Fund or PF account is seen as a retirement-oriented investment option, however, during an emergency, one can also opt for withdrawing PF before the age of retirement. But there is a catch. EPFO allows withdrawal of PF before retirement but if you want to get the money before 5 years of account opening, then TDS (Tax Deduction at Source) is applied on the withdrawal amount. The PF withdrawal rules clearly state that if the EPF/PF account is attached with PAN, the TDS deduction rates stand at 10 percent while in the case of EPF accounts without  PAN, the TDS rate stands at 20 percent.  But there are exceptions too. In a few cases, PF account holders can avoid TDS deduction while taking out money before five years of account opening.