Career Break
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BreakingEPF: Interest After Leaving Job Could Be Taxable, Even if Balance is Tax-Free
While your Employees' Provident Fund (EPF) balance usually remains tax-free after five years of service, interest earned on it *after* you've left your employment might be considered taxable. This interpretation, supported by some Income Tax Appellate Tribunal (ITAT) rulings, is crucial for individuals planning or undergoing career breaks.
BreakingEPF Rules for Career Breaks: Interest Earnings, Withdrawal Limits, and Tax Impact
Employees taking a career break of 1–2 years can keep their EPF accounts active and continue earning interest until age 58. While partial withdrawals are permitted after one month of unemployment, tax implications apply if the total service is less than five years.
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