Dear All,
I’ve a Q regarding EPF.As 12% of basic is deposited by employer and same 12% from employee salary.
So my query is if one person’s 80c component is complted by other means not including epf, then how tax will be calculated.
Will employer contribution of epf will be deducted from total taxable income after deducting sec 80 c amount of 1 lakh or it’s included within entire 80c of 1 lakh.
Also what about vpf,will it be taxable and fall within 80c 1 lakh bracket???