Provident fund
unnati sharma (39 Points)
12 December 2017
whether employer's contribution to provident fund is a taxable income for his employee???
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 12 December 2017
No....
it's not his / her income.
it's not his / her income.
sweetyjain
(assistant)
(227 Points)
Replied 12 December 2017
employer contribution towards pf is allowable expense to entity and not consider in the hand of employee , so it is not taxable in the hand of employee
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 12 December 2017
I agree with Sweety Jain.
➡️Cont. in SPF is fully exempt.
➡️Cont. in Recognised PF is exempt upto 12% of salary (i.e. basic +DA(part of retirement benefits)+com. as fixed %on turnover)
➡️Cont. in Unrecognised PF is not exempt but also not taxable in the year of cont. but is taxable in the year when PF amount is matured.
➡️Cont. in SPF is fully exempt.
➡️Cont. in Recognised PF is exempt upto 12% of salary (i.e. basic +DA(part of retirement benefits)+com. as fixed %on turnover)
➡️Cont. in Unrecognised PF is not exempt but also not taxable in the year of cont. but is taxable in the year when PF amount is matured.
Recent Topics
- Which GST to charge(Whether exempt or chargeable)
- Impact on project cost
- Register as representative for deceased
- OLD SILVER PURCHASES
- Best CA coaching in Delhi
- Takeover of Partnership firmmm
- Intra Day loss carry forward
- Prepaid Expenses in IT on which GST already paid
- OCI ( Overseas Citizen of India ) Tax Residency wh
- How to Apply for a PAN for a Company's Gratuity Tr
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
