Provident fund
This query is : Resolved
18 November 2011
Please suggest Respected experts:-
let example of one month just to ease calculations
Contribution to RPF
Employee salary;- 6500/- per month
Employee Cont to pf :- 780
Employer Cont to pf :- 239
Employer Cont to Pension Scheme:- 541
Interst on employee contribution for year:- 66
Interest on employer contribution for year :- 20
above data for financial year 2009-10. he claimed Rs 780/- under section 80C also.
now he withdrawal amount before completeing 5 year of service.
1)which amount will be taxable
2)which will be exempt
3)under which head it will be taxable
4)and what about 80C already claimed
i have taken data of one month just to ease calcualtion..
Please suggest Respected experts:-
let example of one month just to ease calculations
Contribution to RPF
Employee salary;- 6500/- per month
Employee Cont to pf :- 780
Employer Cont to pf :- 239
Employer Cont to Pension Scheme:- 541
Interst on employee contribution for year:- 66
Interest on employer contribution for year :- 20
above data for financial year 2009-10. he claimed Rs 780/- under section 80C also.
now he withdrawal amount before completeing 5 year of service.
1)which amount will be taxable
2)which will be exempt
3)under which head it will be taxable
4)and what about 80C already claimed
i have taken data of one month just to ease calcualtion..
CA Hardik Bunha
(Expert)
18 November 2011
Time limit of 5 year will not applicable for PF.
No point for both taxable or exempt.
No metter if deduction was taken u/s80c
No point for both taxable or exempt.
No metter if deduction was taken u/s80c
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