please let me know if we are contributing voluntary provident fund in total,1)do we get the income tax rebate ? 2) is it taxable ? 3) what would be the percentage4) is company benefited in any way
regards
ravi
From India, Hyderabad
regards
ravi
From India, Hyderabad
hi all,
my question is, suppose a employee basic is Rs. 6500/- & deduction is made in his salary Rs. 780/- one side. then what happen what will be the contribution if his basic will be Rs.7000/-, is his contribution will remain continue or not, if yes than on how much basic.
thanks
K.K
From India, Ghaziabad
my question is, suppose a employee basic is Rs. 6500/- & deduction is made in his salary Rs. 780/- one side. then what happen what will be the contribution if his basic will be Rs.7000/-, is his contribution will remain continue or not, if yes than on how much basic.
thanks
K.K
From India, Ghaziabad
Hi Mr.Ravi
Yes you can take the VPF amount in rebate & it is not taxable.
You can contribute your VPF amoun till 88%.
Exg:Your basic is 6500 ,out of this 12% will go to PF at Rs.780 & remaining Rs.5720 at 88% you contribute as VPF.
From India
Yes you can take the VPF amount in rebate & it is not taxable.
You can contribute your VPF amoun till 88%.
Exg:Your basic is 6500 ,out of this 12% will go to PF at Rs.780 & remaining Rs.5720 at 88% you contribute as VPF.
From India
hi,
can anyone please send me some more information on VPF.
how a letter can be drafted to get this done with my company. what are the benefits!
i am aware that the lock in period is till retirement in case of VPF.
is there anything else i need to know like opeing the VPF account if an employee approaches me.
thanks
From India, New Delhi
can anyone please send me some more information on VPF.
how a letter can be drafted to get this done with my company. what are the benefits!
i am aware that the lock in period is till retirement in case of VPF.
is there anything else i need to know like opeing the VPF account if an employee approaches me.
thanks
From India, New Delhi
hello
I am providing a link wherein more information about VPF is given.May be this can help all.But i am confused as i am getting to know for the first time that VPF account lock in period is for life time and apart from 12% of teh basic,88% goes to VPF .I believe both are not correct statements.Please confirm as according to me an employee can choose the percentage on his own as multiples of 12% and maximum limit ca be 96%...please guide.
The link- VPF or Voluntary Provident Fund: Special benefits for employees
From India, Ghaziabad
11I am providing a link wherein more information about VPF is given.May be this can help all.But i am confused as i am getting to know for the first time that VPF account lock in period is for life time and apart from 12% of teh basic,88% goes to VPF .I believe both are not correct statements.Please confirm as according to me an employee can choose the percentage on his own as multiples of 12% and maximum limit ca be 96%...please guide.
The link- VPF or Voluntary Provident Fund: Special benefits for employees
From India, Ghaziabad
Dear Ravi,
Greetings for the day,
ANy contribution voluntarily towards EPFO is non taxable, the percentage for contribution voluntarily should be upto the 100% of the basic salary, apart from 12% , in company balance sheet if the voluntarily contribution is marked then it comes under expenditure and the tax liability towards the company minimizes.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Greetings for the day,
ANy contribution voluntarily towards EPFO is non taxable, the percentage for contribution voluntarily should be upto the 100% of the basic salary, apart from 12% , in company balance sheet if the voluntarily contribution is marked then it comes under expenditure and the tax liability towards the company minimizes.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
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Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc