WebFeb 6, 2024 · Surcharge on income-tax under both old regime and new regime is 10 per cent if income is above Rs 50 lakh and up to Rs 1 crore, 15 per cent if income is above Rs 1 crore and up to Rs 2 crore, 25 per cent if income is above Rs 2 crore and up to Rs 5 crore, and 37 per cent if income is above Rs 5 crore. WebMar 28, 2024 · Process for EPF Payment Online Follow the given steps in order to make the EPF payment online- Log in to the EPFO portal using your Electronic Challan cum Return (ECR) credentials Check whether the details such as establishment ID, Name, Address, Exemption status, etc. are correct
EPF & Gratuity Fund subject to 25% Surcharge Tax?
WebFeb 24, 2024 · Employees' Provident Fund (EPF) Employer's contribution In the existing tax regime (FY 2024-20), an employer's contribution of up to 12 percent of an employee's salary is tax-free. Any... WebThe Employees’ Provident Fund (EPF) was established under the EPF Act No.15 of 1958 (Act) as a mandatory defined contribution retirement scheme for the private and semi-government sector employees who do not enjoy pension benefits. Being the largest superannuation fund in Sri Lanka, EPF manages an asset base of Rs. 2,824 bn as at … lyrics organizer
Income tax rules: Tax on PF interest, reduction in time limit of …
WebEmployees monthly basic salary + Dearness Allowance: Rs.15000/- Employee contribution toward EPF will be 12% × 15000= Rs.1800/- 12% of the employer contribution will then be divided into two parts i.e. 3.67% goes to Employee Provident Fund and 8.33% set aside for Employees Pension Scheme. WebApr 12, 2024 · Self-employed persons and migrant workers also could contribute to the Fund on their own and obtain membership. At present the active membership of the fund is approximately 2.6 Million and covered by 79,000 employers. The value of the members fund was about Rs. 406 Billion as at 31st December 2024. WebBy Shenal Fernando The Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF) would be subjected to the 25% surcharge tax, introduced in Budget 2024, the … lyrics on top of the world imagine dragons