Taxability of Interest on PF contrbution
This query is : Resolved
26 March 2021
Sir
PF contribution for an year includes the following
1.Monthly voluntary contribution.
2.Compulsory contribution as part of Pay revision.
3.Annual Interest Added to the Fund.
Is there any exemption for the above contribution for calculating the interest
PF contribution for an year includes the following
1.Monthly voluntary contribution.
2.Compulsory contribution as part of Pay revision.
3.Annual Interest Added to the Fund.
Is there any exemption for the above contribution for calculating the interest
26 March 2021
Annual interst added to the fund out of own contribution upto 5 lacs Exempted.
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26 March 2021
Sir
What about the compulsory contribution as part of Pay revision. Because , due to merging of pay revision arrear with provident fund 5 Lac limit exceeds otherwise it will be less than 4 Lac.
What about the compulsory contribution as part of Pay revision. Because , due to merging of pay revision arrear with provident fund 5 Lac limit exceeds otherwise it will be less than 4 Lac.
26 March 2021
Such excess will be taxable from next financial year.
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