Hi
How much provident fund amount we can consider under 80C?
My question is, can we consider only employee share or both employer and employee share?, what we are deducting while run his/her monthly salary
Please help
Thank You
Srinivas
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Savings documents for the year 2016-17 (provident fund)
Replies (3)
payment towards PF account during the year, upto Rs. 150,000/- is allowed as deduction under section 80C.
Hi,
For Employee share of PF Deduction under Section 80C is available. (Upto 150000)
The Employer Share Exempt upto 12% of Basic Salary. Thus Contribution made by employer exceeding 12% shall be added to employee’s salary Income
only employee's contribution is entitled for deduction U/S 80C, no limit, but threshold of section 80 C will apply.
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