Please tell me.....
1. contribution towards PF by employer over & above 12% of salary is possible or not by wish of employee?
2. if yes allowed then up to wht extent? and the same all has benn allowed as deduction u/s 80C or not?
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Provident fund Query Urgent
Replies (3)
i hope contribution in excess of 12% of salary will be treated as perquisite. Contribution can be possible. if employee contribute, he can claim 80 C deduction
Employee can Contribute more than 12% but he will get deduction subject to maximum of Rs 1 Lac.
Employers contribution is taxable in excess of 12% salary (i.e if the employer contributes more than 12% of salary then it will be taxable)
Agree with CMA sanjay
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