Calculation & Deduction of Provident Fund
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Calculation & Deduction of Provident Fund

In this post, we will see the latest circular from the Ministry of Labour & Employment, Government of India about the calculation and deduction of taxable interest related to contribution in Provident Fund exceeding specified limit of Rs. 2.5 Lakh shall be part of taxable income. Came into force on 1st April 2022, for the FY 2021-22. 

For the complete list, visit  – Notification of Calculation & Deuction of PF

Below, you can see the official circular.

 

EPFO, HEAD OFFICE

MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA

BHAVIHYSA NIDHI BHAWAN,14, BHIKAIJI CAMA PLACE, NEW DELHI 110066

www.epfindia.gov.in

 

WSU / 6(1) 2019 / Income Tax / Part-I (E33306)

 

To

   All Addl. CPFC (Zones),

   All Regional P.F Commissioners

   Incharge of Regional offices.

Sub: Calculation and deduction of taxable  interest relating to contribution in Provident Fund exceeding specified limit – regarding

Ref: Ministry of Finance Notification G.S.R 604(E) dated – 31.08.2021

         (Copy enclosed)

Madam/sir,

               In pursuance of the notification issued by Department of Revenue (CBDT) dated 31st August 2021, the interest relating to contributions in a Provident Fund, exceeding specified limit of Rs. 2.5 Lakh shall be part of taxable income of the subscriber. 

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