Provident Fund Contributions Above 2.50 Lakh To Be Taxed: 10 Key Points
Financial News: The Centre intends to tax contributions to the Employees Provident Fund (EPF) that exceed 2.50 lakh per year.
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Financial News: The Centre intends to tax contributions to the Employees Provident Fund (EPF) that exceed 2.50 lakh per year.
The Centre has planned to tax Employees Provident Fund (EPF) contributions exceeding Rs 2.50 lakh yearly. For government employees, the limit has been set at a higher end of Rs 5 lakh. Under the set of new Income Tax (I-T) Rules, PF accounts are likely to be divided into two parts -- taxable and non-taxable contribution accounts from April 1, 2022.
When an employee changes jobs, the PF account number remains intact, and the employee does not have to worry about PF account transfer.
Many changes have been implemented starting from employee holidays to salaries and working hours have been enacted as a result of this bill.
செப்டம்பர் 1 முதல் பல துறைகளில் முக்கிய விதிகளில் மாற்றங்கள் ஏற்பட உள்ளன. இவை நேரிடையாக உங்கள் செலவில் பாதிப்பை ஏற்படுத்தக் கூடியது