Tag: excess contribution

EPFO

Employers’ provident fund contribution tax norm creates confusion

Before deciding the tax interest earned by private sector employees contribution over the 2.5 lakh towards provident fund from April 2021, the government had decide to bring employer’s contribute of over 7.5 lakh towards retirement saving to tax net last year. in the previous year Budget Finance Minister Nirmala Sitharaman decide to tax employer’s contributions …