Is employer pf deduction available under new tax regime ..pls give answers with respect to before budget and after budget in new tax regime
Is employer pf deduction available under new tax regime
assessee (...) (546 Points)06 February 2023
(SEO Sai Gr. Hosp.)
Replied 06 February 2023
Yes, Employers' contributions to their employee's NPS and EPF and superannuation accounts are applicable for tax exemption. However, the contributions made in a financial year to all the employee accounts should not be above ₹ 7.5 lakh to qualify for the tax exemption.
Under both tax regimes the deduction is available, be it before budget, or after amendment.