Provident fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2013
please clarify, whether employers contribution is perquisite or profits in lieu of salary? and lumpsome amount received on retirement is profits in lieu of salary or perquisite?
30 October 2013
no. it is not a perquisite. nor it is profit in lieu of salary.
The lumpsum amount received at retirement is a non -taxable amount.
The lumpsum amount received at retirement is a non -taxable amount.
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