EPF and Tax Planning: Methods and Benefits

EPF and Tax Planning: Methods and Benefits

EPF and Tax Planning: Methods and Benefits

Oct 17, 2024

EPF is a tax-saving investment that provides tax benefits to the employees. Here are some key points to consider:

  • Methods: EPF contributions can be claimed as tax deductions under Section 80C of the Income Tax Act, up to a maximum limit of Rs. 1.5 lakh.

  • Benefits: EPF provides tax-free returns and the withdrawal is also tax-free if the account has been active for at least 5 years.

By utilizing the tax benefits provided by EPF, employees can save taxes and plan their finances effectively.