Epf contribution deduction

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85 Points Posted on 14 December 2020
from my gross salary 1500 deducts from employee and 1500 from employer then how much amount can i take deduction under section 80c
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On 14 December 2020 at 16:04 Report
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This discussion clarifies how your Employee Provident Fund (EPF) contributions can be deducted under Section 80C of the Income Tax Act. If both you and your employer contribute ₹1500 each per month, your total annual EPF contribution amounts to ₹18,000. This full amount is eligible for deduction under Section 80C, which has an overall limit of ₹1.5 lakhs, helping you reduce your taxable income.

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Accountant
3662 Points Posted on 14 December 2020
1500..…..
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On 14 December 2020 at 22:27
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85 Points Posted on 16 December 2020
1500×12=18000
in 80c(whose limit is 1.5lakhs)
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On 16 December 2020 at 10:29
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Manager-Accounts & GST Consultant
5124 Points Posted on 16 December 2020

If 1500 per month then Yes 18000 for the year.

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On 16 December 2020 at 21:33
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Tax consultant
5895 Points Posted on 18 December 2020
Agree with saloni mam
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On 18 December 2020 at 21:35

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