Employers contribution to EPF
Kk Nair (172 Points)
25 December 2018
Is Employer's contribution towards EPF taxable?
3 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 25 December 2018
Statutory provident fund:
Fully Exempt
Recognized provident fund:
Exempt only to the extent of 12% of salary
Unrecognized provident fund:
Fully Exempt
MOHAMMED IMRAN
(1020 Points)
Replied 25 December 2018
if it is RPF than in excess of 12%of salary is taxable - interest in excess of 9.5% is taxable
if it is statutory PF then employers contribution and internet thereon is fully EXEMPTED
if it is unrecognized PF NOT TAXABLE YEARLY
AMOUNT RECEIVED ON RETIREMENT, etc. employers contribution & interest thereon is taxable as salary .employee 's contribution not taxable. interest on employee's contribution is taxable as income from other sources
salary = basic + DA if it is forming part of salary for all retirement benefits + commission on turnover
if it is statutory PF then employers contribution and internet thereon is fully EXEMPTED
if it is unrecognized PF NOT TAXABLE YEARLY
AMOUNT RECEIVED ON RETIREMENT, etc. employers contribution & interest thereon is taxable as salary .employee 's contribution not taxable. interest on employee's contribution is taxable as income from other sources
salary = basic + DA if it is forming part of salary for all retirement benefits + commission on turnover
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