Hi guys,
I would appreciate it if you could please confirm if there is any ceiling or maximum limit to the amount of PF contribution that can be made by the employer. Is the following statement true? The amount is fixed for employer contribution to the limit as per exemption under section 80C, and the amount is Rs. 7,000 per month towards PF contribution from the employer's side; any amount over and above this limit paid by the employer is taxable in the hands of the employer.
Thanks,
Amit
From India, Delhi
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2I would appreciate it if you could please confirm if there is any ceiling or maximum limit to the amount of PF contribution that can be made by the employer. Is the following statement true? The amount is fixed for employer contribution to the limit as per exemption under section 80C, and the amount is Rs. 7,000 per month towards PF contribution from the employer's side; any amount over and above this limit paid by the employer is taxable in the hands of the employer.
Thanks,
Amit
From India, Delhi
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf