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EPFO PENSION TAXABILITY

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Ganesan B

EXECUTIVE IN NBFC

100 Points Posted on 15 August 2021

Is EPFO pension received by retired private company employees taxable?

Replies (5)

Quick Summary

This discussion explores the taxability of pensions received from the Employees' Provident Fund Organisation (EPFO) by retired private company employees. While some believe it's not taxable as it's funded by employee contributions, the prevailing view is that EPFO pensions are indeed taxable. They are treated as salary income, and the standard deduction of up to £50,000 may apply.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 15 August 2021

I think it is taxable

Ganesan B

EXECUTIVE IN NBFC

100 Points Posted on 16 August 2021

Thanks Sourav. There is a strong view that since this pension is paid by EPFO out of the money that has been recovered from the employee, it is not taxable.

J S BHAVSAR

CONSULTING

1322 Points Posted on 17 August 2021

EPFO Pension is Taxable and treated as Salary with the Employer Name as the one mentioned on the PPO.

J S BHAVSAR

CONSULTING

1322 Points Posted on 17 August 2021

EPFO Pension is Taxable and treated as Salary with the Employer Name as the one mentioned on the PPO. Standard deduction of maximum Rs 50,000 is also applicable.