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form 16

24 July 2018

I have my epf statement and form 16. The amount deposited in epf as employee contribution is less than the deduction allowed u/s 80c. What to do?

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6 Replies

Bharat Patel (5 Points)
Replied 24 July 2018

if your income crosses the extemtion limit than invest in Bank FDR, LIC, MF, PPF etc. Maximum limit is 1.5 lac inclusive of PF. Suppose your gross income is 3.0 lac than you have to make investment of 50,000, if income is 4.0lac than invest 1.5 lac so your return will be NIL. (exclusive of 80D)

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Ashish Khillan (Gaining knowledge) (1039 Points)
Replied 24 July 2018

u can claim deduction u/s 80 c upto 150000 if ur deduction is less then u can claim all

Krishna Parshuram Puria (51 Points)
Replied 24 July 2018

Sir actually me query is my employer has shown a deduction of 15000 u/s 80c as contribution to epf in my form 16.. But the actual amount deposited in epf as per epf statement is less than 15000.so can i claim entire 15000 as deduction?