WebbThe maximum amount against which a participant can claim tax credit, is the lower of, his actual contribution to a pension fund during the year; 20% of his taxable income in the tax year; or Rs 1 million. Tax credit is not available in respect of balance transferred by a participant from a recognized provident fund to the individual pension ... Webb17 mars 2024 · The other two are "Pensions (approved Pensions Fund) and Provident Fund". It is a "lump-sum" amount of money payable to a worker on leaving service …

PPT - PROVIDENT FUND PowerPoint Presentation, free download

WebbThe Employees’ Provident Fund (EPF) Act and EPF Scheme have a significant impact on organizations and their employees, particularly with regards to the pf applicability number of employees. The EPF Act is applicable to every establishment which employees 20 (twenty) or more persons and every such employer shall be required to be registered ... WebbIn this video, I will guide you about an important concept of “Provident funds under salary income head” as per the income tax ordinance. It will include pra... in store office furniture

A guide to retirement benefits and how they work in Pakistan

Webb20 juni 2024 · Statutory Provident Fund is set under the Provident Fund Act, 1925. It is maintained by the Government, semi Government, local authorities, and other many … Webb14 juni 2024 · In a bid to generate Rs7 billion additional revenue from the salaried persons, the government has slapped 10% tax on provident fund contributions exceeding Rs500,000. Webb13 aug. 2024 · There are different types of Provident Funds (PFs) which can be used by an individual for investment and saving purposes. The Balance of Provident Fund account (PF A/c) consists of amount … joanna shimkus and sidney poitier movie