Voluntary Provident Fund [Thread 59822]

please let me know if we are contributing voluntary provident fund in total,1)do we get the income tax rebate ? 2) is it taxable ? 3) what would be the percentage4) is company benefited in any way
regards
ravi

hi all,
my question is, suppose a employee basic is Rs. 6500/- & deduction is made in his salary Rs. 780/- one side. then what happen what will be the contribution if his basic will be Rs.7000/-, is his contribution will remain continue or not, if yes than on how much basic.
thanks
K.K

Hi Mr.Ravi
Yes you can take the VPF amount in rebate & it is not taxable.
You can contribute your VPF amoun till 88%.
Exg:Your basic is 6500 ,out of this 12% will go to PF at Rs.780 & remaining Rs.5720 at 88% you contribute as VPF.

hi,
can anyone please send me some more information on VPF.
how a letter can be drafted to get this done with my company. what are the benefits!
i am aware that the lock in period is till retirement in case of VPF.
is there anything else i need to know like opeing the VPF account if an employee approaches me.
thanks

hello
I am providing a link wherein more information about VPF is given.May be this can help all.But i am confused as i am getting to know for the first time that VPF account lock in period is for life time and apart from 12% of teh basic,88% goes to VPF .I believe both are not correct statements.Please confirm as according to me an employee can choose the percentage on his own as multiples of 12% and maximum limit ca be 96%...please guide.
The link- VPF or Voluntary Provident Fund: Special benefits for employees

Dear Ravi,
Greetings for the day,
ANy contribution voluntarily towards EPFO is non taxable, the percentage for contribution voluntarily should be upto the 100% of the basic salary, apart from 12% , in company balance sheet if the voluntarily contribution is marked then it comes under expenditure and the tax liability towards the company minimizes.
Thanks & Regards,
From,
Sumit Kumar Saxena