Tax Perquisite Estimator
Check if your employer's annual contributions to EPF, NPS, and Superannuation cross the âš7.5 Lakh statutory limit under Section 17(2)(vii).
Employer Annual Contributions
Taxability Analysis
Contribution Breakdown
Understanding Section 17(2)(vii)
According to the Income Tax Act, if the aggregate amount contributed by an employer to a recognized provident fund (EPF), National Pension System (NPS), and approved superannuation fund exceeds âš7,50,000 in a single financial year, the amount in excess of âš7.5 Lakh is treated as a perquisite and is fully taxable in the hands of the employee.
Note on Interest: Furthermore, any annual interest, dividend, or return earned on this excess contribution amount is also computed and treated as a taxable perquisite under Section 17(2)(viia).
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