Super Annuation. Contribution to LIC superannuation policy by employer could not be continued after some years of inception of trust.
1) Can the employee start contributing directly now, condoning (if any) the break of payment.
2) If the employee doesn't want to draw now and wishes to withdraw later, does the employee still have to reach out to the employer to claim this money, as there could be a possibility that the employee may not be continuing the employment with the employer over a period of years due to retirement or superannuation?
3) Is there any tax implication for withdrawing the superannuation amount - TDS/Income Tax?
From India, Chennai
1) Can the employee start contributing directly now, condoning (if any) the break of payment.
2) If the employee doesn't want to draw now and wishes to withdraw later, does the employee still have to reach out to the employer to claim this money, as there could be a possibility that the employee may not be continuing the employment with the employer over a period of years due to retirement or superannuation?
3) Is there any tax implication for withdrawing the superannuation amount - TDS/Income Tax?
From India, Chennai
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ESI contribution rates lowering.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx