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Finance minister Nirmala Sitharaman.(File photo)

Nirmala Sitharaman makes employee PF share up to 5L tax-free

By Rajeev Jayaswal, New Delhi
UPDATED ON MAR 24, 2021 05:28 AM IST
The Union Budget on February 1 proposed that interest on employee contribution to provident fund (PF) over 2.5 lakh per annum would be taxed from April 1.
Employees Provident Fund Organisation office (EPFO) on Rajaram Mohan Roy Road,in Bangalore(Hemant Mishra/Mint)
Employees Provident Fund Organisation office (EPFO) on Rajaram Mohan Roy Road,in Bangalore(Hemant Mishra/Mint)

Govt says taxation of EPF contribution will not affect genuine contributors

By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON FEB 04, 2021 08:24 PM IST
  • The rule is to ensure that high net worth individuals who post huge sums of money per month in their EPF accounts do not get to misuse the provision of assured high interest.
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))

Citing IL&FS, govt seeks rethink of EPF rate hike

New Delhi | By Rajeev Jayaswal
UPDATED ON JUN 20, 2019 08:27 AM IST
The EPF interest rate was at a five-year low of 8.55% in the 2017-18 fiscal, and the 8.65% proposal, made in the run-up to the general elections in February, would have benefited the roughly 45 million subscribers to the retirement savings accoun
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