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Un recognised provident fund

This query is : Resolved 

Is the interest earned annualy on employee's contribution under unrecognised provident fund exempted from income tax while in service?
please clarify?

Such interest not exempt from income tax.

sir,i have read in ICAI notes that employee's contribution under such fund is not eligible for deduction but interest credited is not taxable yearly. In our case it is CPF(contributory provident fund-unrecognised PF managed in a bank by the organisation)
kindly clarify.

Yes, agree with you interest on employees contribution is not taxable.

Thanks a lot Sir.Can you please clarify what is the tax liability when a person gets his contribution and interest earned at the time of retirement from such an unrecognised provident fund.

No tax payable.......

Bajaj Finserv

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