Employees provident fund organization(epfo)

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Rajat Jain (Querist)
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19 February 2017 whether Fund set up by Employees provident fund organization (EPFO) for government employees is statutory provident fund or recongnised provident fund??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 February 2017 It is a statutory provident fund.

Rajat Jain

Rajat Jain (Querist)
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19 February 2017 Sir can you please explain me how so that i can explain it my boss??

Rajat Jain

Rajat Jain (Querist)
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19 February 2017 first of all thank you sir for the reply ,sir can please me how it is a statutory provident fund so that i can explain it to my boss and whether government employee here also includes state government employee and semi-government employee

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 February 2017 See the link.
https://taxguru.in/income-tax/tax-treatment-recognized-provident-fund-rpf-unrecognized-provident-fund-urpf-statutory-provident-fund-spf.html

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Rajat Jain

Rajat Jain (Querist)
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19 February 2017 Thanks again sir
sir since fund set up by epfo for government employees is a statutory provident fund any pension received from such fund would be exempt as section 10(11) says that any payments received from statutory provident fund is exempt

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 February 2017 Pension payment is taxable but payment of provident fund accumulation with interest after 5 years of service is exempted from tax.

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