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HOW to calculate salary in case of providend fund
Replies (8)
12% pf the employer's provident fund exempted and employee' provident fund get deduction in section 80C of the income tax act.
salary include ?????????
Basic pay + allowance + perquisites.
Salary for the purpose of PF includes BASIC PAY+DA .
Perquisites are not taken.
Perquisites are not taken.
yes but in income tax book (B.COM) there are 3 cases for computation is salary
1= BASIC PAY
2=Basic pay + DA if enter
3= basic pay+ DA if enter+Commission
which is right among the following above
1= BASIC PAY
2=Basic pay + DA if enter
3= basic pay+ DA if enter+Commission
which is right among the following above
Commission which is part of Term of Joining is also considered as basic pay.
But that can't be called as Perquisites.
But that can't be called as Perquisites.
salary for the purpose of providend fund
basic + DA/DP if forming part salary for all retirement benefits + commission on turnover
employers contribution to
statutory PF -fully exempted
RPF-in excess of 12% is taxable
URPF- not taxable yearly (at the time of retirement it is taxable as salary)
basic + DA/DP if forming part salary for all retirement benefits + commission on turnover
employers contribution to
statutory PF -fully exempted
RPF-in excess of 12% is taxable
URPF- not taxable yearly (at the time of retirement it is taxable as salary)
Mohammed imran sir thank for completely soluation
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