Dear all,
Please clarify the below point. In my CTC, around Rs.40320 is employer contribution to PF and Rs.40320 is employee contribution to PF. My doubt is, is that total amount Rs.80640 will be considered as non-taxable income or only the employee contribution only the non-taxable income. Our accountant says, as both employee and employer contribution is included as part of CTC, only the employee contribution considered as non-taxable income and for the remaining amount i need to pay the tax.
Please clarify the above point.
Regards
Sasikumar R
Please clarify the below point. In my CTC, around Rs.40320 is employer contribution to PF and Rs.40320 is employee contribution to PF. My doubt is, is that total amount Rs.80640 will be considered as non-taxable income or only the employee contribution only the non-taxable income. Our accountant says, as both employee and employer contribution is included as part of CTC, only the employee contribution considered as non-taxable income and for the remaining amount i need to pay the tax.
Please clarify the above point.
Regards
Sasikumar R