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Tax on EPF interest (>2.5 lakhs per annum)


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18 minutes ago, NatuGadu said:

2.5L interest vachhe vallu evaru mana db lo

Not interest bro.  If deposit more than 2.5L that will move to another account.

Dani meda vache interest amount ki tax kattali. 

May be normal employees may not effect with this.  

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1 minute ago, Suresh_Ongole said:

Not interest bro.  If deposit more than 2.5L that will move to another account.

Dani meda vache interest amount ki tax kattali. 

May be normal employees may not effect with this.  

Is it employee only contribution? or employee contribution + employer contribution?

If it is including both, considerable employees will get impacted! (Remember there were employees who chooses VPF to contibute)

2,50,000/12 = 20833/mo ~= 10,000/mo employee contribution

 

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2 minutes ago, surendra.g said:

Is it employee only contribution? or employee contribution + employer contribution?

If it is including both, considerable employees will get impacted! (Remember there were employees who chooses VPF to contibute)

2,50,000/12 = 20833/mo ~= 10,000/mo employee contribution

 

It's including both employee and employer contribution.  In this case how employee will benefited?  I don't understand your logic bro. 

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1 hour ago, Suresh_Ongole said:

It's including both employee and employer contribution.  In this case how employee will benefited?  I don't understand your logic bro. 

Impacted, not benifited. If it is considering both components more employees will get impacted.

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1 hour ago, Surap83 said:

no its only Employee contribution more than 2.5L.... employer contribution not considered....

No Clarity bro, Could not find anything on it in google. Can you post if it is clarified somewhere?

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Impact ayye janalu chala takkuva. And govt ki vachedi kuda chala takkuva. Basically it is like discouraging PF savings. Generally avi long term savings kabatti positive for economy. Vallu iche 8% return ki malli tax ...

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Employee Provident Fund (EPF) payments over Rs 2.5 lakh per year would be taxed, according to a notification published on August 31. This limit will be Rs 5 lakh per year for PF accounts when employers do not contribute.
 

seems 2.5L only from employee contribution 

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