what is unrecognised provident fund?

URPF IS THAT PF WHICH IS UNRECOGNIZED BY ANY PRESCRIBED AUTHORITY OF INDIA

 

& DURING JOB- ONLY EMPLOYEE CONTRIBUTION IS TAXABLE

 

& ON RETIREMENT- OTHER THAN EMPLOY CONT.EE i.e EMPLOYER CONT. + INTEREST ON EMPLOYER AS WELL AS EMPLOYEE CONT.'s INTEREST IS TAXABLE

Originally posted by : Dheeraj
	URPF IS THAT PF WHICH IS UNRECOGNIZED BY ANY PRESCRIBED AUTHORITY OF INDIA   & DURING JOB- ONLY EMPLOYEE CONTRIBUTION IS TAXABLE   & ON RETIREMENT- OTHER THAN EMPLOY CONT.EE i.e EMPLOYER CONT. + INTEREST ON EMPLOYER AS WELL AS EMPLOYEE CONT.'s INTEREST IS TAXABLE

Hello Debasish & all !! In URPF:- (a). Employer's Contribution- is exempt in the hands of Employee. (b). Annual Interest Credited to the Fund- It is also exempt in the hands of employee. (c). Lump sum amount received at the time of retiremen- i. Principal amount received with respect to employee's contribution is exempt. ii. Interest amount received with respect to employee's contribution is taxable as ''Income from Other Sources''. iii. Balance amount is fully taxable as '' Income from Salaries'.

hello debasish

refre page 6 of the pdf file i am enclosing