Q Why is it in News ?
A. Following its Budget announcement in February, the Finance Ministry has now notified the rules for taxing interest income on contributions made to the Employees’ Provident Fund (EPF) beyond Rs 2.5 lakh (for private-sector employees) and Rs 5 lakh (for government sector employees).
Q What is Provident Fund?
A
Q What are various types of provident funds ?
A
There are mainly three different types of PFs, which are as follows:
Q What is the tax on EPF contributions?
A
Q Why tax the PF?
A
Q How will it get taxed?
A