PF and TDS deduction on Leave encashment
This query is : Resolved
01 January 2009
Dear Sir,
Do we need to deduct TDS and PF when we make provision for leave encashment at the year end when the co has or has not a policy of carry forwarding the eqarned leaves?
Thanks
Regards
Gaurav Rastogi
9971230877
Do we need to deduct TDS and PF when we make provision for leave encashment at the year end when the co has or has not a policy of carry forwarding the eqarned leaves?
Thanks
Regards
Gaurav Rastogi
9971230877
03 January 2009
only TDS is required.PF is not mandatory for over 12 month payments in any shape
03 January 2009
Dear sir,
Kindly calrify your answer.
Thanks
Kindly calrify your answer.
Thanks
15 October 2010
TDS is liable to deduct since the leave are the part of Salary and taxable under the provisions of Income Tax.
PF is not required to deduct from leave payment since PF is calculated on Basic salary.
In other words the leave is not form the part of Basic salary.
Regards
K.L.Paliwal
PF is not required to deduct from leave payment since PF is calculated on Basic salary.
In other words the leave is not form the part of Basic salary.
Regards
K.L.Paliwal
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