Skip to Content
avatar image
Former Member

Employer PF contribution over 1.5 lakh is taxable

Hi Team,

As per the budget 2016, employer contribution excess of Rs. 1.5 lakh p.a. is subjected to tax. We have implemented the 2016 budget in our system. Instead of using IN72 PCR we use ZN72 and /145 (EPF Nominal Basis) WT inserted in our custom rule.

But system is giving full exemption to employer contribution if it exceed 1.5 lakh.

The excess amounts are not added to the income.

Kindly help.

Regards,

Sanjay Biswal

Add comment
10|10000 characters needed characters exceeded

  • Get RSS Feed

0 Answers