Employee Provident Fund (EPF) - Everything you need to know | Section 80C

In this video we explained the details of Employee Provident Fund

EPF comprises three different parts:
1. EPF (Employee Provident Fund)
2. EPS (Employee Pension Scheme)
3. EDLI (Employee Deposit Linked Insurance)

It is mandatory for all organizations with more than 20 employees and employees drawing Basic + DA less than Rs 15000

How it works?
The employee contributes 12% and employer contributes 12% of Basic+DA. Depending on your income, there are multiple scenarios

Taxation?
It comes under EEE category

What is special about EPF?
Employer contribution is tax free with a limit of 7.5 L combined across NPS, Superannuation fund and EPF

Withdrawal
- At Maturity/retirement
- 2 months of unemployment

[shikhar]

After spending a lot of time trying to figure out how Employer's Contribution to EPF is treated in tax planning, I finally understood form this video. Thanks a lot

[sameerkashikar]

Superb video!! No such videos on YouTube! Great job 👏!

[shubhambangad]

I was looking for this type of video since a long time. Very informative and each detail is covered.

[karthik_Scado]

The way you are explaining deserve more view's

[yashgupta]

This video is so informative. Please keep making such content.

[mattskoda]

Need more people so spread this video more

[akashprajapati]

Great Videos, Do continue adding such informative videos. I liked the way you explained Simply sober !!

[vikramchugh]

Really very useful video. Thank a lot sir for such a detailed content.

[pinkichhilwal]

Well explanation & easy to understand.👍💯

[thangaduraia]

Thanks for the wonderful informative video!!

[achilesashes]

Thank you detailed explanation.

Can you please explain this.
Does my Form 16 include the tax exemption for Employee share of EPF?
or should I exclusively claim Employee share of EPF under 80C during ITR filing.

Under which section can I exempt Employer Share of EPF?

[coolmanishdhiman]

How do we claim deduction more than 150000 if opting for VPF ? Also do we claim HRA if paying rent for 2 houses

[abhishekm]

In epf only employee contribution is non taxable or both employee contribution and employer contribution is non taxable?

[SagarPatil-gugp]

My Contribution towards provident fund is eligible for deduction under 80C, But what about my employers contribution? The employer also equally contributes towards my provident fund, is that amount also eligible for deduction?

[CodeUpskill]

How do you make such presentataion bro

[sakthiaravinth]

Employee contribution claimed under 80c
Employer contribution in which section it will be claimed?

[jackr]

Thanks, a couple of things,
1) Interest is not credited on 31 March, it is still not credited for 2021. It depends on Government many times.
2) I think it is not necessary to divide 3.67% and 8.33% to EPF and Pension respectively. The employer can invest a minimum amount of 1250 in Pension and rest in EPF for Employee's benefit

[tusharshaily]

If someone started job after 2014 and earning more the 15000 then he is not eligible for eps, so your video is misguiding. Correct me if i am wrong

[coolmanishdhiman]

How do we claim deduction more than 150000 if opting for VPF ? Also do we claim HRA if paying rent for 2 houses