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The Regional Provident Fund Commissioner (II) West Bengal vs. Vivekananda Vidyamandir and Others or simply Vivekananda Vidyamandir case, (AIR 2019 SC 1240) [1] was a 2019 Indian Supreme Court decision which laid down the principles on how contributions to Employees' Provident Fund Organisation have to be computed by the employers.
In employer contribution of 12%, 8.33% transfer to EPS (Employee Pension Scheme) and 3.67% transfer to EPF (Employee Provident Fund). Over and above, employer has to bear 0.50% as administrative charges on EPF and 0.50% as EDLI (employer’s Deposit linked Insurance) Charges.
§80G – Charitable contributions (50 or 100 percent) §80GG – Rent minus 10 percent of income, up to ₹ 5,000 per month or 25 percent of income (whatever is less) [16] §80TTA – Interest on savings, up to ₹ 10,000 §80TTB – Time deposit interest for senior citizens, up to ₹ 50,000
The Act provides for establishments of a contributory Provident Fund in which employees' contribution shall be at least equal to the contribution payable by the employer. Minimum contribution by the employees shall be 10-12% of the wages.
Employer contributions go in tax-free, and employees receive qualified reimbursements tax-free. QSEHRAs: Eligible Medical Expenses. In terms of eligible medical expenses, QSEHRAs can cover ...
Contributions; Talk; Employees Provident Fund. ... Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India;
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous organisation under Ministry of Labour and Employment, Government of India.As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the ...
In Malaysia, The Employees Provident Fund (EPF) was established in 1951 upon the Employees Provident Fund Ordinance 1951. The EPF is intended to help employees from the private sector save a fraction of their salary in a lifetime banking scheme, to be used primarily as a retirement fund but also in the event that the employee is temporarily or ...