PF Part of Salary
This query is : Resolved
16 July 2011
In a Salary Structure EPF employee contribution amount is a Part of Salary. Is it right.if yes then how the tax will calculate
16 July 2011
It can only be a part of CTC... It can not be a part of salary.
Tax is to be calculated only on salary (without including employer's contribution) & not CTC.
Tax is to be calculated only on salary (without including employer's contribution) & not CTC.
16 July 2011
Yes, its part of Salary ...
IF EMPLOYEE GETTING SALARY RS. 100000 PM AND HIS CONTRIBUTION IS RS. 12000 PM
WE CALCULATE TAX ON THE BASIS ON RS. 100000 BUT EMPLOYEE IS ELIGIBLE TO DEDUCTION U/S 80C UPTO RS. 100000
IF EMPLOYEE GETTING SALARY RS. 100000 PM AND HIS CONTRIBUTION IS RS. 12000 PM
WE CALCULATE TAX ON THE BASIS ON RS. 100000 BUT EMPLOYEE IS ELIGIBLE TO DEDUCTION U/S 80C UPTO RS. 100000
16 July 2011
Sorry... I was referring to EMPLOYER's CONTRIBUTION......
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