Experts PF Consultant in Ahmedabad

Best PF Consultant in Ahmedabad

Employee Provident Fund

Connect 2 Payroll Service Provider by ESI PF Consultant in Ahmedabad, and India. How much cash would I receive in-hand? is the first question a person asks HR when discussing their pay. Because they are beyond of their control, people frequently do not take into account the salary deductions. One of the deductions from the salary account is the Employee Provident Fund (EPF). Despite the fact that you do not physically get it, it is one of the indirect investments that will help you prepare for retirement and increase your retirement corpus.


EPF: What is it?

Connect 2 Payroll Service Provider by ESI PF Consultant in Ahmedabad, and India. One of the oldest and most well-liked savings plans introduced in India under government oversight is the Employees' Provident Fund. All salaried employees are eligible to participate in the Employee Provident Fund Organization (EPFO)-managed retirement benefits program, known as the EPF. Any business that employs more than 20 people must register with the EPFO. Each month, the employer and employee make equal contributions to the EPF plan, which consists of 12% of the base pay plus dearness allowance.

Employer contributions to the Employee Pension Scheme account for 8.33% of total employer contributions. When a person retires, they will receive a lump sum payment that includes interest that is tax-free, as well as the contributions they and their employer made up to that point. Every year, the EPFO sets a predetermined percentage for the interest.

EPF advantages

-Tax Exemption: You can avoid paying taxes on your employer's contributions, interest, and withdrawals.
Tax exemptions apply to the employer's 12% EPF payments from an employee's pay.
Additionally, interest earned on the full EPF balance (including VPF) is tax-free.
- If you remove the money after a minimum lock-in period of five years, the entire amount is completely tax-exempt.

Location: 1004-A, Mahalaya Complex, Opp. Hotel President Swastik Cross Road, Chimanlal Girdharlal Rd, Vasant Vihar, Navrangpura, Ahmedabad, Gujarat 380009, India

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