Guide me plz.
This query is : Resolved
RamaKrishnan
(Querist)
19 July 2008
I have offered CTC Rs.2 Lakhs with a Basic of Rs.8, 000/-
Our HR person has informed me that my Basic exceeds Rs.6, 500/- hence, PF deduction is not compulsory.
If I haven’t opted PF deduction then I can take home my salary without any deduction.
If I have opted PF deduction, then the company’s share also will be deducted from my salary (that is CTC).
If I choose PF what benefit can I enjoy?
If not what am I loosing?
Guide me plz.
Our HR person has informed me that my Basic exceeds Rs.6, 500/- hence, PF deduction is not compulsory.
If I haven’t opted PF deduction then I can take home my salary without any deduction.
If I have opted PF deduction, then the company’s share also will be deducted from my salary (that is CTC).
If I choose PF what benefit can I enjoy?
If not what am I loosing?
Guide me plz.
19 July 2008
The benefits:
1. Carries a better intt rate
2. Intt income is tax free
3. Deposit is Deductible u/s 80C
4. The fund is not attachable
5. Forced savings
1. Carries a better intt rate
2. Intt income is tax free
3. Deposit is Deductible u/s 80C
4. The fund is not attachable
5. Forced savings
RamaKrishnan
(Querist)
19 July 2008
If i'm not opted PF?
19 July 2008
Besides the benefits, you are loosing nothing.
Sambu Suresh
(Expert)
21 July 2008
yeh this is good question yaar.
if u choose for pf , the employer contribution will be exepted u/s 10.
this is the only the differnce.
if u choose for pf , the employer contribution will be exepted u/s 10.
this is the only the differnce.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- GST ITC as per notification 12/2023- central tax
- LLP audit and disclosure
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Gift to nri relatives resides in usa
- GSTR9 Annual Return
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
