Salary

This query is : Resolved

Bhaven (Querist)
Follow

30 May 2011 If an employee left the company after 2 yrs and withdraws the PF amount.(considering contribution @ 12% by employee and employer) details as follow

Employee cont - Rs. 80868
Int on Employee cont - Rs. 810

Employer cont - Rs. 80868
Int on Employer cont - Rs. 810

Now what will be the taxable amount in the hands of employee and under what head.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

30 May 2011 IF U ARE TALKING ABT STATUITORY PF THEN NOTHING IS TAXABLE
IF IT IS RECOGNISED PF THEN TAXABILITY WILL BE DETERMINED IN TERMS OF RULES 8 AND 9 OF PART A OF FOURTH SCHEDULE TO THE ACT

CA MANOJ GUPTA
JODHPUR
09828510543