salary slip & vpf
This query is : Resolved
06 September 2010
dear sir,
plz guide me about VPF in below illustration
an employee in my comp. his salary break up is
basic 17807, hra- 9173, tpt- 800 = total-27780
deduction:-
EPF - 780,VPF - 2000
total salary payable = 24995
now query is can I show vpf in salary slip ???
& can employer deposit it ? & what is the contribution % of employer ?
or is this employee investment like PPF u/s
80c & deduction up to 1 lac ???
plz guide me about VPF in below illustration
an employee in my comp. his salary break up is
basic 17807, hra- 9173, tpt- 800 = total-27780
deduction:-
EPF - 780,VPF - 2000
total salary payable = 24995
now query is can I show vpf in salary slip ???
& can employer deposit it ? & what is the contribution % of employer ?
or is this employee investment like PPF u/s
80c & deduction up to 1 lac ???
06 September 2010
There is no need for a separate column for VPF. Both the amount can be included in one head only.
The PF annual return will carry the appropriate bifurcation.
The PF annual return will carry the appropriate bifurcation.
06 September 2010
VPF is to be deposited by employer only....
Its same to the regular PF. The only difference is that the employers are not required to contribute any part of VPF.
Its same to the regular PF. The only difference is that the employers are not required to contribute any part of VPF.
06 September 2010
PPF is a different instrument which is being held be employees in his personal capacity, while the PF or VPF is a contribution to PF through the employer opened PF account.
Of course, the 80 C deduction is available on all in the same manner, be it PF / VPF or PPF.
Of course, the 80 C deduction is available on all in the same manner, be it PF / VPF or PPF.
06 September 2010
The Employers' contribution to the PF to the extent of 12% of the basic salary is not taxable. Employee can voluntarily contribute to a higher amt. The total amt. contributed by the Employee is covered u/s 80C and will be allowed as deduction within the limit of Rs. 1 Lac.
Your employer would give the TDS certificate giving the deduction in respect of HRA u/s 10(13A), if the conditions are satisfied and accordingly u are required to file the IT return based on the cert.
Your employer would give the TDS certificate giving the deduction in respect of HRA u/s 10(13A), if the conditions are satisfied and accordingly u are required to file the IT return based on the cert.
07 September 2010
thanx ,
every body
every body
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
- Query Regarding on TDS section 194H and 194J
- Fixed Deposit Claim Relinquishment by the Nominee
- NR GST NUMBER
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- FREELANCING ACCOUNTANT
- For REQUIRE INDIVIDUAL GST
- GST Department hearing
- TDS RATE ON RENT PAID TO NRI
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Query reg: Accounting standard, Indian Accounting Standard, IFRS, GAAP, Cost Audit, Frontend audit
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Is CFA or actuary good after CPA and CMA
- Transferring CA articleship from old to new scheme of education and training
- GST Refund SB005 Error
- Notice u/s.148- Asstt.Year 2015-2016
- Invoice Numbers Wrongly Entered
- TDS on purchase of value vouchers for employees ?
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
