Pf on net or gross arrears
This query is : Resolved
12 March 2019
My arrear calculation sheet has a gross of Rs.300000/-. The payroll department has deducted tax @30% on Rs.300000/- which is Rs.90000/- . Then subtracted the accumulated PF amount from the residual Rs.210000/-.
My query is whether PF should have been subtracted from gross Rs.300000/- and then tax is implied
OR
The payroll department calculation is correct.
Regards
My query is whether PF should have been subtracted from gross Rs.300000/- and then tax is implied
OR
The payroll department calculation is correct.
Regards
15 March 2019
It wont matter much, as while filing your income tax return, you will have to pay tax after getting pf deduction
Net payable will be same as after deducting TDS and PF from the salary
Net payable will be same as after deducting TDS and PF from the salary
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