Dear all, please clarify the point below. In my CTC, around Rs. 40,320 is the employer's contribution to PF, and Rs. 40,320 is the employee's contribution to PF. My doubt is, will the total amount of Rs. 80,640 be considered as non-taxable income, or only the employee's contribution will be considered non-taxable income? Our accountant says that since both the employee and employer contributions are included as part of CTC, only the employee's contribution is considered non-taxable income, and for the remaining amount, I need to pay tax.
Please clarify the above point.
Regards,
Sasikumar R
Please clarify the above point.
Regards,
Sasikumar R