Pf Contribution

Under the PF schemes, the employees contribute a small amount of their monthly income, which turns into a retirement corpus.

Provident Fund Update: The EPFO regularly updates the subscribers about the monthly deposits into their PF accounts through SMS alerts.

Gratuity: An employee is eligible for gratuity payment after completing 5 years of continuous service with one employer.

An individual who starts working at the age of 21 years with a basic monthly salary and DA (Dearness Allowance) of Rs 25,000 can retire with over Rs 1 crore from his regular contributions to the EPF investment.

The new labour laws have been passed through the parliament but are delayed as Indian states are yet to notify these regulations.

As per the new labour code, companies can increase the working hours but would have to give an additional weekly off.

The circular said the TDS will be deducted when the interest is paid to an EPF account.

Employees Provident Fund (EPF) contributions exceeding ₹ 2.50 lakh yearly will be taxed from today, i.e., April 1, 2022. That limit has been set for government employees at a higher end of ₹ 5 lakh.

The Centre has planned to tax Employees Provident Fund (EPF) contributions exceeding Rs 2.50 lakh yearly. For government employees, the limit has been set at a higher end of Rs 5 lakh. Under the set of new Income Tax (I-T) Rules, PF accounts are likely to be divided into two parts -- taxable and non-taxable contribution accounts from April 1, 2022.

Government may double the limit for tax-free contributions in provident fund for all salaried employees to up to Rs 5 lakh per annum in the budget

Employees' Provident Fund (EPF) is a mandatory contribution from the salary of an individual that every organization with more than 20 employees has to deduct.

In Budget 2021, the Finance Minister made the announcement regarding raising the limit to Rs 5 lakh in cases where employers do not make contributions to the provident fund.

Individuals whose provident fund contribution is Rs 2.5 lakh or more in a financial year, will not be able to seek tax exemption on the interest earned from the next financial year

In her budget 2021 announcements, the finance minister had proposed that interest earned on employee's contribution above Rs 2.5 lakh in a year will become taxable in the hands of the employee

Individuals whose provident fund contribution is Rs 2.5 lakh and above in a financial year, will not be able to seek tax exemption on the interest earned

Under the PF schemes, the employees contribute a small amount of their monthly income, which turns into a retirement corpus.

Provident Fund Update: The EPFO regularly updates the subscribers about the monthly deposits into their PF accounts through SMS alerts.

Gratuity: An employee is eligible for gratuity payment after completing 5 years of continuous service with one employer.

An individual who starts working at the age of 21 years with a basic monthly salary and DA (Dearness Allowance) of Rs 25,000 can retire with over Rs 1 crore from his regular contributions to the EPF investment.

The new labour laws have been passed through the parliament but are delayed as Indian states are yet to notify these regulations.

As per the new labour code, companies can increase the working hours but would have to give an additional weekly off.

The circular said the TDS will be deducted when the interest is paid to an EPF account.

Employees Provident Fund (EPF) contributions exceeding ₹ 2.50 lakh yearly will be taxed from today, i.e., April 1, 2022. That limit has been set for government employees at a higher end of ₹ 5 lakh.

The Centre has planned to tax Employees Provident Fund (EPF) contributions exceeding Rs 2.50 lakh yearly. For government employees, the limit has been set at a higher end of Rs 5 lakh. Under the set of new Income Tax (I-T) Rules, PF accounts are likely to be divided into two parts -- taxable and non-taxable contribution accounts from April 1, 2022.

Government may double the limit for tax-free contributions in provident fund for all salaried employees to up to Rs 5 lakh per annum in the budget

Employees' Provident Fund (EPF) is a mandatory contribution from the salary of an individual that every organization with more than 20 employees has to deduct.

In Budget 2021, the Finance Minister made the announcement regarding raising the limit to Rs 5 lakh in cases where employers do not make contributions to the provident fund.

Individuals whose provident fund contribution is Rs 2.5 lakh or more in a financial year, will not be able to seek tax exemption on the interest earned from the next financial year

In her budget 2021 announcements, the finance minister had proposed that interest earned on employee's contribution above Rs 2.5 lakh in a year will become taxable in the hands of the employee

Individuals whose provident fund contribution is Rs 2.5 lakh and above in a financial year, will not be able to seek tax exemption on the interest earned