How Much take deduction of Employee Provident fund in income tax
Anoop Jain (107 Points)
13 April 2022I am working in college and my salary is Rs. 50000/- monthly.
provident fund of Rs 3600/- per month is deducted in my salary. In which my contribution is 1800 / - per month and the contribution of the owner is 1800 / - also I voluntarily get it deducted from my salary.
So now I want to know that now how much exemption of provident fund will I get in income tax?
1800/- per month i.e. 21600/- will be exempted in income tax or 3600/- per month i.e. 43200/- will be exempted?