Prabhakar H N (Student) 07 January 2010
one of my client received PF from MICO PF Tr6ust. breakup of the sum received is:
PF own Rs.522766
PF Com Rs.217412
is there any taxable amount involved in this
prabhakar h n
Amir (Learner) 07 January 2010
You have to first find out what kind of PF was it??? - Statutory PF, Recognised PF, Unreognised PF.
. Case1 Statutory PF
NOTHING WILL BE TAXABLE
Case 2 Recognised PF
Nothing will be taxable if
a) Employee has left the job after minimum 5 years of service..or
b) Balance in PF is tranfer to another PF or
c) Employee has left the job For reasons beyond his control like handicapped
Otherwise EMPLOYER SHARE UPTO 12% Salary will be taxable...
Case 3 Unreognised PF
Employer's share will be taxable...