Provident fund
unnati sharma (39 Points)
12 December 2017
whether employer's contribution to provident fund is a taxable income for his employee???
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 12 December 2017
No....
it's not his / her income.
it's not his / her income.
sweetyjain
(assistant)
(227 Points)
Replied 12 December 2017
employer contribution towards pf is allowable expense to entity and not consider in the hand of employee , so it is not taxable in the hand of employee
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 12 December 2017
I agree with Sweety Jain.
➡️Cont. in SPF is fully exempt.
➡️Cont. in Recognised PF is exempt upto 12% of salary (i.e. basic +DA(part of retirement benefits)+com. as fixed %on turnover)
➡️Cont. in Unrecognised PF is not exempt but also not taxable in the year of cont. but is taxable in the year when PF amount is matured.
➡️Cont. in SPF is fully exempt.
➡️Cont. in Recognised PF is exempt upto 12% of salary (i.e. basic +DA(part of retirement benefits)+com. as fixed %on turnover)
➡️Cont. in Unrecognised PF is not exempt but also not taxable in the year of cont. but is taxable in the year when PF amount is matured.
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