The employee may, however, choose to make additional contributions to his EPF account at his discretion According to the law, there is no limit on how much an employee can contribute to their EPF. The voluntary provident fund receives the excess of the mandated 12% payment (VPF). Tax-free...
Union Budget 2021 proposal which comes into effect from 1 Apr 2021, that employee contributions made to the Employees’ Provident Fund (EPF) or exempted PF trusts above₹2.5 lakh would trigger taxability on the interest accrued on the amount above the threshold limit. The tax would eat into ...
it should be noted that the deposit limit is combined, in the sense that the total deposit made in the individual’s own account and the accounts opened on behalf of other persons, should not be more than ₹ 1.5 lakhs. Further, a maximum of 12 deposits in a year is allowed...