EPF account transfer from unexempted trust: Many salaried individual have Employees Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.
Section 80C tax benefit on EPF: Many salaried individuals claim Section 80C tax benefit on their own Employees Provident Fund (EPF) contribution. However, not many are aware that if the EPF trust does not meet certain specified conditions, then both the employer and employee contribution will be taxable in the hands of an individual.
Financial Literacy News: When starting a new job, employees either join the Employees' Provident Fund (EPF) for the first time or transfer their balance to the EPF account set up by their new employer.
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Financial Literacy News: The Income Tax department has found many cases where the rent received doesn't match the House Rent Allowance (HRA) claimed by taxpayers. Because of this, many people have received notices through the 'e-verification' system on the department's compliance portal.