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EPF is not TAX-FREE anymore, T&C apply | Rules you should know

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  • Опубліковано 16 сер 2024
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    Turns out EPF (a tax-free savings scheme) has a lot of tax rules and real tax liabilities in certain cases. In this video, I break down each of those cases to help you whether you need to pay any kind of tax on your EPF or Pension money. The latest rules and regulations regarding EPF withdrawals and their tax implications. We will cover topics such as the taxable portion of EPF withdrawals, the conditions under which EPF withdrawals are subject to tax, and the applicable tax rates. We will also discuss the impact of these changes on your overall financial planning and suggest strategies to mitigate the tax impact.
    .....................................................
    Chapters:
    0:00 Introduction
    1:00 Why is not completely tax-free?
    1:34 Tax on Contribution
    3:53 Tax on Interest
    7:32 Tax on Withdrawal
    9:46 Tax on Pension
    11:05 Curious Question
    .....................................................
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    #epf #pf #tax #LLA

КОМЕНТАРІ • 1,1 тис.

  • @LabourLawAdvisor
    @LabourLawAdvisor  2 роки тому +30

    Hax to Save Tax: www.taxplanningforsalariedemployees.com
    📚Payroll, Excel & Labour Law Courses for career growth: lpt.institute/courses/
    💸DEMAT Account: link.lla.in/Demat
    QuickPayroll: quickpayroll.in/
    File ITR: link.lla.in/Tax

    • @santoshsahoo9
      @santoshsahoo9 2 роки тому

      Is PPF also taxable ?

    • @RohitKumar-fk7hp
      @RohitKumar-fk7hp 2 роки тому

      Question:- What is the meaning of EPF withdrawal after 5 years? Does it mean withdrawing PF after working for 5 years in a company OR it means withdrawing PF after 5 years of leaving the company. Please answer.

    • @abinasroy3577
      @abinasroy3577 2 роки тому

      Sir mujhe PF ke liye ek help chahi ye....apse contact kyse karu.?

    • @swathykrishnan5566
      @swathykrishnan5566 2 роки тому

      Its 1lakh(not 10lakhs) minus 1.5lakhs which is displayed on screen at 2.27 sec

    • @dhavalyadav1223
      @dhavalyadav1223 2 роки тому

      10000 selary he t

  • @exhindujay
    @exhindujay 2 роки тому +336

    It reminds British era, as we had read in books britishers were trying to put as much as tax possible on poor Indians, something similar Govt is doing with salaried/middle-class

    • @My2690
      @My2690 2 роки тому +28

      To modi mahal kese banega fir

    • @travellerca2398
      @travellerca2398 2 роки тому +26

      Bhai tu samjh raha hai 250000 ki limit ko matlab jiska monthly basis aur DA milake 173000 se upar hai uspe lagega ye provision.
      Mujhe samjhai 170000 se jada salary kamane vala banda kaha se middle class hua

    • @shivamsonu1
      @shivamsonu1 2 роки тому +1

      @@travellerca2398 मैं इससे आधा ही कमाता हूं. लेकिन annually 2.5 लाख से ज्यादा PF में डाल देता था.

    • @travellerca2398
      @travellerca2398 2 роки тому +2

      Shiv kumar bhai PF pe 500000 ki limit lagai hai
      EPF mai 250000 ki limit hai agar aap Voluntarily apni 12% se jada karte hai EPF mai jama aur vo 250000 se upar jaata hai to aapko bhi 250000 se upar ke amount pe jo interest milega uspe tax dena padega

    • @shivamsonu1
      @shivamsonu1 2 роки тому

      @@travellerca2398 I will check my whole statement tomorrow and will let you know.

  • @TheConfirmist
    @TheConfirmist 2 роки тому +168

    The Tax Poem
    Tax his land, tax his wage,
    Tax his bed in which he lays.
    Tax his tractor, tax his mule,
    Teach him taxes is the rule.
    Tax his cow, tax his goat,
    Tax his pants, tax his coat.
    Tax his ties, tax his shirts,
    Tax his work, tax his dirt.
    Tax his chew, tax his smoke,
    Teach him taxes are no joke.
    Tax his car, tax his grass,
    Tax the roads he must pass.
    Tax his food, tax his drink,
    Tax him if he tries to think.
    Tax his sodas, tax his beers,
    If he cries, tax his tears.
    Tax his bills, tax his gas,
    Tax his notes, tax his cash.
    Tax him good and let him know
    That after taxes, he has no dough.
    If he hollers, tax him more,
    Tax him until he’s good and sore.
    Tax his coffin, tax his grave,
    Tax the sod in which he lays.
    Put these words upon his tomb,
    "Taxes drove me to my doom!"
    And when he’s gone, we won’t relax,
    We’ll still be after the inheritance tax.

  • @yesh1nth
    @yesh1nth 2 роки тому +78

    Considering the amount of money we pay for fuel, we need a law to get tax benefit while filing IT returns for fuel.

  • @dearvivekkumar
    @dearvivekkumar 2 роки тому +203

    Last year this lady was saying that she want to make the taxation simple.
    I guess she forgot about that 😂

    • @nickinick5264
      @nickinick5264 2 роки тому +9

      All the politicians are "ghajni"

    • @visheshsethiya7032
      @visheshsethiya7032 2 роки тому +21

      Thats what she is doing, it will be easy for her to collect more tax now

    • @singharjot86
      @singharjot86 2 роки тому +3

      Once she said that she come from a family where they don't eat pyaz and lasun so she doesn't cares about the prices. Well she might not also does with the savings and tax 🤷

    • @technological1401
      @technological1401 2 роки тому

      I'm pretty sure she herself understands how taxation works in our country.

    • @TON-vz3pe
      @TON-vz3pe 2 роки тому +4

      She is the worst kind out there. Neither she nor her department cares about small savings schemes investors. Just cause she is women we don't have to admire her position cause her actions are villainous.

  • @rupalikapoor3159
    @rupalikapoor3159 2 роки тому +314

    Sir, donation to political party par 1%tax ho to Bharat sarkar ka khazana bhar jayega.

    • @Jitendra_Mali
      @Jitendra_Mali 2 роки тому +10

      Correct

    • @sonujoshi4455
      @sonujoshi4455 2 роки тому +13

      Sahi pakre hain lekin wo nahin karenge

    • @tusharmishra7838
      @tusharmishra7838 2 роки тому +8

      'Donations' bhi sarkar ko jaaega.. aur 'Tax' bhi sarkaar ko jaaega....!!
      Vaise donations k rules hote hain... ek limit tak hi exemption hota hai sirf charitable purposes k liye ...!

    • @abhisheknautiyal4200
      @abhisheknautiyal4200 2 роки тому +8

      18% karo usse

    • @pateltejas2312
      @pateltejas2312 2 роки тому

      Great..
      Very Important Video :-
      GST / RCM / Reverse Charge Mechanism🥰
      ua-cam.com/video/qu4ZoEZPzHY/v-deo.html

  • @s.k.bansal9821
    @s.k.bansal9821 2 роки тому +63

    No Words for explaining this technical simplicity, just to say "The End"

  • @ranitdey6355
    @ranitdey6355 2 роки тому +466

    This govt is in search to collect every possible way to finance their political conveniences

    • @mehuldesai2666
      @mehuldesai2666 2 роки тому +89

      100% true, Desh Bhakti Aur Dharm Ke name pe public ka bada wala chutiya katt raha he. and people are enjoying it :)

    • @dm5665
      @dm5665 2 роки тому +14

      @@mehuldesai2666 it will change soon. Don't worry

    • @whyzi6143
      @whyzi6143 2 роки тому +36

      I dont mind giving tax. I just want one simple thing. Using it to make citizen’s life easier. But the government has budget for stupid projects. But never for basic health and infrastructure. And then they demand for donations. Why so much irony b

    • @kapurchandkhandelwal
      @kapurchandkhandelwal 2 роки тому +11

      @@mehuldesai2666 phele pta kr ki aaj konsi deal huvi h defence sector me(world affairs, prasant dhavan sir ke channel pe jaake) 🤦🏻‍♂️

    • @armaanwalker1807
      @armaanwalker1807 2 роки тому +9

      Ismai comment mai andh bhakt hai

  • @Desireanshu
    @Desireanshu 2 роки тому +183

    Now they are after our retirement funds. What George Carlin said about Govt is getting true each day

    • @amangoel3828
      @amangoel3828 2 роки тому +16

      Yup... They forced us to save for retirement. Now they will impose Heavy Taxes on them.. Throw them now.

    • @sunildev2557
      @sunildev2557 2 роки тому +3

      They r not crediting interest for fy 20_21 and on the contrary taxing salaried people

    • @piyush8372
      @piyush8372 2 роки тому +3

      Carlin was indeed a great man...!!!

    • @lifethrumaeyes
      @lifethrumaeyes 2 роки тому +2

      I think 2.5 L employee contribution limit and 7.5L employer yearly limit is big enough.

  • @vacate81
    @vacate81 2 роки тому +206

    PF itself is tax which govt pays back after years of holding on to it

    • @nimeshparmar6183
      @nimeshparmar6183 2 роки тому +15

      Most informed and relatable comment I've red on taxing of pf

    • @wewe-fx6un
      @wewe-fx6un 2 роки тому

      Explain

    • @arpitkumar4525
      @arpitkumar4525 2 роки тому +1

      PF still gives good returns. But many people advise to buy NPS which is wrong if you are aware of what it is. You have to buy 40% annuity that gives you only 4% returns. So you just completely lose 40% of your investment. The only good thing is it has fixed returns. So it's good for super super risk averse people.

  • @keshavsharma574
    @keshavsharma574 2 роки тому +89

    At times it seems that Government willingly keeps such schemes tricky and cumbersome and because of that there is big unclaimed amount persists with the PF department🏬

  • @bsaisrikar7569
    @bsaisrikar7569 2 роки тому +101

    Okay I am gonna say this now. Whenever a new video is released by you, there will be an immense pressure on the other financial channels. That is the power of information which is being shared through your content. Now, this is what we should call “content creators” or “INFLUENCERS”. Kudos to you guys. :)

  • @sadiquehaque210000
    @sadiquehaque210000 2 роки тому +155

    thode din me oxygen tax aney wala hia, Oxygen lene pe tax

    • @CHANTHEDARKKNIGHT
      @CHANTHEDARKKNIGHT 2 роки тому +20

      Yes modi hai toh mumkin hai....

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +2

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in seveal lakhs every month!

    • @finsaver9756
      @finsaver9756 2 роки тому +7

      Why are you worried about it you people are biggest beneficiaries of freebies of all things in last 75 years

    • @LabourLawAdvisor
      @LabourLawAdvisor  2 роки тому +27

      @@finsaver9756 Aisa mat karo yaar, let's keep religion out of LLA. We all are in it together please request hai

    • @finsaver9756
      @finsaver9756 2 роки тому

      @@LabourLawAdvisor Sure sir next time onwards not mentioned in LLA

  • @akshaymendole2146
    @akshaymendole2146 2 роки тому +5

    The most comprehensive video on tax liabilities on PF after finance budget 21 that I was looking for. Thanks a lot.

  • @SujjuBabu
    @SujjuBabu 2 роки тому +128

    It's so f*-king frustrating how much tax the middle class has to pay in India because there's no clear benefit despite paying so much. it's actually better to leave the country and settle in Germany or somewhere. At least there tax actually justifies the benefit of health insurance, education etc

  • @ankit19111988
    @ankit19111988 2 роки тому +11

    A high time all the taxpayers form something like "Income Tax Payers Asscociation" and oppose this high tax regime.

  • @shaiks876
    @shaiks876 2 роки тому +3

    Didn't see someone explain PF in such simple ways. Thank you sir.

  • @akhtar74644
    @akhtar74644 2 роки тому +37

    I remember how many of my hindu friends in past use to call congress chor but now they all know their fav party is chor ka baap but can't utter a single word 😂😂

    • @T.Thevar
      @T.Thevar 2 роки тому +24

      Bhai,..from what I have observed..
      Hindus were forced to choose BJP against Congress, being helpless...bcoz of the over done appeasement politics and coz of the fear of being subdued. People like Owasi reinforced that fear.
      Hindus feared losing liberty of life and rights if they are not cautious about the ruling government, just as it happened during mughal rule. Thus now they are looking for a religiously supportive government.
      As Hinduism and Islam are fundamentally OPPOSITE of each other, staying under one roof, they are bound to have violent clashes, as it is the nature of Human kind to do so.
      There are 49 Muslim majority countries, covering over 40% of World Land mass with over 2.5 Billion strong Adherent followers of Islam.
      Where as there is only 1 country in the world with Hindu majority which is not even recognized as Hindu nation in spite of being the land of Origin of that religion. As being a polythiestic religion it's values and fundamental are exactly Opposite of worlds major religions that are Monotheistic. Thus Hindus have no fraternity anywhere.
      The fear of Hindus to lose out on what little they have is genuine and BJP is just encashing this fear.
      For Hindus there is a valley infront and a well behind.. thus are helpless and are forced to choose bjp inspite of all this financial atrocities as well are silent watching extreme right wing harassing Muslims. I don't think 99% of Hindus want anything bad for Muslims, but they are silent only because they feel that they need BJP for their safety.

    • @akhtar74644
      @akhtar74644 2 роки тому +4

      @@T.Thevar yeah bro I get it and you are totally right.

    • @Sarvesh_Coder
      @Sarvesh_Coder 2 роки тому

      U are completely right but my vote goes to current govt

    • @akhtar74644
      @akhtar74644 2 роки тому +5

      @@Sarvesh_CoderI know that very well but you should also know one thing "do whatever but muslim will always exist in India" 😂😂

    • @JK-fp1ou
      @JK-fp1ou 2 роки тому +1

      @@akhtar74644 jab desh ke liye ladne ki baat hogi tab tumlog pith dikhe ke iss desh se bhaag jaoge,jaise ki afghani log bhaag gaye but but hum hindu marne dum tak ladenge...yeh differencw hai hindu aur muslim me

  • @crimsoncanvas51
    @crimsoncanvas51 2 роки тому +96

    This PF change is OK. But 2.5lacs is very less. I generally contributed 15-20k in VPF even though I am in 20% bracket. The limit should have been atleast 4.5 lacs, I believe.

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +3

      Its for EPF and not for VPF. VPF was already taxable

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +6

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in seveal lakhs every month!

    • @crimsoncanvas51
      @crimsoncanvas51 2 роки тому +48

      @@Urbanhunter49 This includes EPF + VPF. Both were not taxable earlier.
      It may effect middle class person. Mostly people dont invest in MF/Stocks.A person with CTC of 12lakh, will have 85K in hand, so he can easily contribute 15K-20K towards VPF. I am not saying the new law is bad. It's basically putting a CTC of 15lakh person and 15crore in same basket.

    • @siddharthprasad9496
      @siddharthprasad9496 2 роки тому +10

      achchhe din

    • @ankitachauhan
      @ankitachauhan 2 роки тому +5

      @@crimsoncanvas51 I completely agree with you. Limit should be extended to 5lakhs contribution.
      Like finance minister amend this limit to government employees.

  • @prasadbm1988
    @prasadbm1988 2 роки тому +18

    Govt is literally bringing everything is possible into the tax bracket now. But we are expecting growth of our country in same phase which is not happening.
    Job crisis, food crisis, fuel hikes, former pain, inequality, literacy progress, education to all, medication to all, lots of issues....
    Poor are becoming more poorer and rich are getting more richer... imbalance...

  • @amansapra1779
    @amansapra1779 2 роки тому +52

    Well I know now , that in the next elections whom I am not going to vote for😂. It is like putting a person who is earning above 10 LPA and a person earning 1Cr in the same bracket. There should been a larger slab atleast 5 lakh, 2.5 is too less , that's what I believe

    • @dheeraj7886
      @dheeraj7886 2 роки тому +3

      Yes definitely....

    • @masochistboy653
      @masochistboy653 2 роки тому +11

      This Govt is very incompetent and not for middle class. Petrol prices touched 100rs even when the Crude oil price is half what used to be in UPA. LPG is hitting record high while Ambani and Adani along with upper echelon billionaires are getting wealthier each day even during a pandemic. It's such BS.

    • @Someshj11
      @Someshj11 2 роки тому

      @@masochistboy653 arey bhai aadhi information zeher ekdum.

    • @adityasaigal8080
      @adityasaigal8080 2 роки тому

      @@masochistboy653 poori duniya ki economy ki lagi hui hai...ameer aur ameer hogA, aap dekho har jagah ameer aur ameer hue hein pandemic mein. Sirf bharat nahi, sabhi jagah, har desh mein. Basically 10l aur adhik income grp walo ko target kiya hai...mera mitra hai salary 30 lakh per year hai...income tax sirf 40k bhar rha, 10lac se upar walo ko target kiya hai govt. Ne

    • @anjanasengupta6638
      @anjanasengupta6638 2 роки тому +1

      @@adityasaigal8080 please give some tips about giving 40k income tax against 30 lakh income .
      I am paying 40 k tax against 8 lakh income after savings 1.5 lakh in PF ( getting 80c tax benefits )

  • @Ashwini-Javageek
    @Ashwini-Javageek 2 роки тому +29

    First point, who are those people who are depositing 100 Crores every year in PF, it would obviously be white money isn't it. Second, even after depositing 100 crore that person would still get an exemption of only 1.5 lac in 80C isn't it, so that great fellow is anyway paying tax on his income -1.5 lac. Why isn't that income tax also being talked about. Thirdly did some body miss the count of zeros between lacs and 100 Crore. Why does an average middle class who is paying taxes through his nose be equated with some one who is capable of depositing 1000s of lacs every year in PF. Is that fair?

    • @praneetgupta5121
      @praneetgupta5121 2 роки тому +10

      Target was high net worth individuals ..and they would be a very minute percentage. But still humari Nirmala madam ne sabki class laga di 😂

    • @CAPARTH89
      @CAPARTH89 2 роки тому +4

      HNI depositing 100 crore in voluntary pf is interested in exempt income in form of int on pf and not 80c deduction.
      And FM didn't say 100 crore is black money.

    • @Ashwini-Javageek
      @Ashwini-Javageek 2 роки тому +7

      @@CAPARTH89 Really ! , So that person capable of depositing 100 Crores in PF was interested in 8.5% interest that he would be withdrawing at the time of retirement after many years. Must be living on an island where no bankers and mutul fund agents have not been able to reach till date isn't it.

    • @CAPARTH89
      @CAPARTH89 2 роки тому

      @@Ashwini-Javageek What do you want to convey?

  • @poonamkhatri3914
    @poonamkhatri3914 2 роки тому +20

    The last question of yours questions the intention of Govt in bringing taxation on PF 😀😀😀
    Btw nicely explained 👍

  • @deadnight700
    @deadnight700 2 роки тому +4

    Rishabh Jain you are a boon to all Indians who want to understand government financial products. Keep up the good work 👍

  • @EveryPaisaMatters
    @EveryPaisaMatters 2 роки тому +28

    This time for our Finance Minister - Every Paisa Matters 😁

    • @Bd26688
      @Bd26688 2 роки тому +8

      To loot or what?

    • @EveryPaisaMatters
      @EveryPaisaMatters 2 роки тому +5

      @@Bd26688 Loot nahi, woh to hak se lete....
      Keh ke Lenge 😁

    • @chittirobogaming
      @chittirobogaming 2 роки тому +6

      @@EveryPaisaMatters ham bhi fir election me daba ke lenge😂

    • @NISHUGARVU
      @NISHUGARVU 2 роки тому

      Aaram s lo firr 60 saal se jaise tumhari liii gayi thi baise hiii dobara dene k liye taiyaar rahiye

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +1

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in seveal lakhs every month!

  • @ComicEnthusiast01
    @ComicEnthusiast01 2 роки тому +5

    Apke jaise log jab tak rahenge, exactly pata chalta rahega ki govt hamara kitna kat'ti hai, 🔥🔥 great video very informative.

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in several lakhs every month!

  • @amitbab
    @amitbab 2 роки тому +5

    Bro... you are really making this easy to understand.... couple of questions from my side will this complicated process will be displayed in our online PF book.... otherwise people like me who also contribute under VPF will have to calculate manually. Also what will be tax treatment to existing interest earned on VPF contribution.

  • @JOYKHANDELWAL
    @JOYKHANDELWAL 2 роки тому +6

    Such an important update for all working class but there's almost no awareness articles at all in the media..
    Thank you so much 👍

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +1

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in seveal lakhs every month!

    • @amlanjyoti2
      @amlanjyoti2 2 роки тому +1

      Media is sold and honestly I don't think their pea sized bigoted brains could explain in a simplistic manner

    • @cyogian
      @cyogian Рік тому

      @@Urbanhunter49 exactly, anyone contributing more than 2.5 LPA, is already above Middle Class.

  • @jsnytprwn5995
    @jsnytprwn5995 2 роки тому +5

    Itni ghatiya sarkar ajtak nahi dekhi... Bhagwan chhutkara dilao isse...

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +1

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in several lakhs every month!

    • @jsnytprwn5995
      @jsnytprwn5995 2 роки тому

      @@Urbanhunter49 whatever...still I don't like this govt ...

  • @parveenbhardwaj2252
    @parveenbhardwaj2252 2 роки тому +15

    I wish I would have ever known where this huge taxes goes. From Helath, Education, roads, water and every possible public utilities we use we pay taxes. Than where are these taxes benefiting me back as citizen?
    Every other developed countries u see ur taxes being utlised to benefit you back with public services. And here we give taxes for millions of hoardings, advertisement and elections used for personal gains by govt.

    • @AllinOne-md1tj
      @AllinOne-md1tj 2 роки тому +5

      chutita Govt....

    • @amangoel3828
      @amangoel3828 2 роки тому +6

      For Funding MLA, Political Rallies, Advertisements.
      Rest Private org will improve Public infrastruture by taking charges from us.
      No use of Tax for People.

    • @ronitkumar5101
      @ronitkumar5101 2 роки тому +1

      Are bhai agr tax nhi lenge ese toh har state mai free electricity har mhine 2000 rup kese denge 🤣🤣

    • @amangoel3828
      @amangoel3828 2 роки тому +3

      @@ronitkumar5101 hum toh yha 5k ka bill bharte hai... Kya chij free mili middle class ko?

    • @ronitkumar5101
      @ronitkumar5101 2 роки тому

      @@amangoel3828 bro mai wohi bol rha hu sarcasm tha bhai😅

  • @RahulKumar-jj2tx
    @RahulKumar-jj2tx 2 роки тому +7

    Firstly they are bringing in new wage code which increases pf contribution for private sector employees.. Now they have capped the exempted contributions at 2.5 lakh.. This will surely affect the middle class people as it decreases the take home salary as well as increases tax liability.. Although it would take >20LPA basic salary to reach the 2.5lakh contribution mark given u only contribute the 12% and not VPF.

  • @AKSHANSHJAISWAL
    @AKSHANSHJAISWAL 2 роки тому +1

    There should be excellent teachers like you in actual education system of schools kids will learn from start

  • @arkadas1993
    @arkadas1993 2 роки тому +18

    These type of videos are the MOAT of this channel 👍

    • @LabourLawAdvisor
      @LabourLawAdvisor  2 роки тому +3

      I am sure many don't know what MOAT is, they think you wanted to type GOAT or something ...

    • @omanajz
      @omanajz 2 роки тому +2

      @@LabourLawAdvisor moat means unique selling point

  • @vikassamal2815
    @vikassamal2815 2 роки тому +13

    The govt also knows its their last tenure,so time to collect some chanda in the name of tax

  • @rav5098
    @rav5098 5 місяців тому +1

    *PF should be a deduction other than 80 C*
    It's not done

  • @anilkumarpatel5854
    @anilkumarpatel5854 2 роки тому

    It is reminding that ,what Churchil Said before handing over.

  • @syedfarukhaider1330
    @syedfarukhaider1330 2 роки тому +5

    GST has already raised the prices of so many things. And the price of some natural resources are touching sky high for no reason.
    We also pay income taxes throughout our lifetime till retirement AND now they want to tax the money that you are gonna use during your last days on Earth.....Just Wowww

  • @RAHULKUMAR-sw8gq
    @RAHULKUMAR-sw8gq 2 роки тому +11

    ₹15000 की पेंशन पर भी टैक्स देना होगा मतलब अब दाल रोटी भी आधी कर दे?

    • @mehuldesai2666
      @mehuldesai2666 2 роки тому +4

      Yes Hindu Dharm khatre me he. Ittna to karna hi padega.

    • @RAHULKUMAR-sw8gq
      @RAHULKUMAR-sw8gq 2 роки тому

      @@mehuldesai2666????

    • @naveenchaudhary4072
      @naveenchaudhary4072 2 роки тому +4

      @@mehuldesai2666 nai sir. Minority ministry ka budget 17% badha hai is sal.. Hindu kamayega tax dega.. Minority wale free me. Mauj karenge

    • @jayantdheerana3057
      @jayantdheerana3057 2 роки тому

      @@naveenchaudhary4072 i think vo sarcasm mein bol rhey h

    • @SahilSharma-mu4yk
      @SahilSharma-mu4yk 2 роки тому +2

      @@jayantdheerana3057 inhone bhi sarcasm mei hi bola hai

  • @GoodHuman-rs3gc
    @GoodHuman-rs3gc Рік тому

    Hi, If employee contribution is 100, interest on it is 8 and employer contribution is 80 and interest on it is 6. So, acc to your logic, we should put 80+6 as salary income and 8 as other sources. But this will not reconcile the 26AS as that has full amount listed 100+8+80+6 = 194 and 19.4 as TDS on it. So, should we add 100 also to other income and then claim exemption on it?

  • @arpitkumar4525
    @arpitkumar4525 2 роки тому +1

    And people say government securities and schemes are significantly more safer than equity based schemes. The rules can change anytime and interest rate varies too

  • @EveryPaisaMatters
    @EveryPaisaMatters 2 роки тому +5

    2:16 - Calculation mein chook gaye sir....Ek zero kam hai wahan pe....(10 Lakh ki jagah, 1Lakh)

    • @RohitSharma-cn7cl
      @RohitSharma-cn7cl 2 роки тому +5

      ab ek zero editor ki salary me se kaata jayga

    • @LabourLawAdvisor
      @LabourLawAdvisor  2 роки тому +16

      Editor mandeep hai :)

    • @EveryPaisaMatters
      @EveryPaisaMatters 2 роки тому +3

      @@LabourLawAdvisor Chalo ghar ka paisa ghar mein reh gaya 😁.
      BTW, awesome content and well presented - as usual.

  • @shelly5221
    @shelly5221 2 роки тому +4

    Then what's the point of deducting PF at the first place and paying interest on that?

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +1

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in several lakhs every month!

    • @shelly5221
      @shelly5221 2 роки тому

      @@Urbanhunter49 Yeah, I further read about this. The limit is too high to achieve for any middle class person within a year.

    • @baa7948
      @baa7948 2 роки тому

      If they want to tax the interest then let the person decide if they want to really contribute to PF why Make minimum contributions certain portions mandatory to PF let the person decide if he has already paid taxes on am amount deposited in the PF account he wants to pay more tax on it or not or he wants to keep it in bank.or invest it somewhere else with long term gain less tax why force double taxation let people choose this option if they really feel that letting govt charge double taxes for an interest that they get for a amount which is blocked for so many years is their best choice no freedom we will decide your basic we will decide your PF we will decide everything but you become our source for long term taxes for the money which we already hold for so long that too harass the already honestly paying tax payer amazing acche din and andh bhakthi and really not focus on genuine people avoiding taxes this will really not increase taxes hugely but burden and complicate things for a tax payer who might have a small stint of few good year of job and all is right but not even give any service to that person when he losses his job and even take the seat on the name of reservation nothing no tax returning if the person gets in real need but all is justified rules cannot be consistent it has to be torturous for salaried

    • @baa7948
      @baa7948 2 роки тому

      And also why keep govt employees contribution to above 5 lakhs for taxation

  • @vrindavangardenresort4737
    @vrindavangardenresort4737 2 роки тому +1

    Good morning sir...
    Aapne bahut hi badiya jankari di.... thanks 👍👍
    Agr VRS k vjh se service gyi....to us case pf kab tak n nikale ki intrest milta rhaga....23 yr service hui.. Pension plan bahut kam aa rha h 2281 Rs,

  • @rushikeshpatil9615
    @rushikeshpatil9615 11 місяців тому

    Hello sir,
    Very detailed information, Thank you..
    Could you please make video on VPF and which is best between VPF and PPF?

  • @dr.nirajsingada5763
    @dr.nirajsingada5763 2 роки тому +5

    A salute to finance management all over...

  • @SugamAnand
    @SugamAnand 2 роки тому +6

    I want to understand one thing. If investing (contribution) in epf is taxable then why are HNIs forced to invest 12%. They should be given a choice, right?

    • @Urbanhunter49
      @Urbanhunter49 2 роки тому +1

      No normal person contributes soo much amount to PF. This Rules will not effect any Middle Class Person. Only Rich people who earn in seveal lakhs every month!

    • @rbaksar
      @rbaksar 2 роки тому +1

      @@Urbanhunter49 yes, some people who commented here not even understanding what is the difference between employer and employee pf amount. Employer who contributes more than 12% or up to 7.5 Lakh which is unrealistic for middle class employee.

    • @SugamAnand
      @SugamAnand 2 роки тому +1

      @@Urbanhunter49 what is the definition of normal person? Matlab kuch bhi 😅

    • @amlanjyoti2
      @amlanjyoti2 2 роки тому +1

      @@Urbanhunter49 are you BJP IT cell or what?? Everywhere the same copy-paste comment

  • @satishbadgujar1174
    @satishbadgujar1174 2 роки тому

    PPF contribution (1.5L) it is added to contribution for PF(2.5L) calculation

  • @kaustubhmittal
    @kaustubhmittal 2 роки тому +2

    Have couple of questions regarding withdrawing PF before 5 years of continuous service.
    Say for e.g. an employee resigns after 4 tmyears, hower continues his EPF a/c for 2 years (which I thinPF rules allow). Will the tax liability arise if he withdraws PF after 6 years (4 year of service + 2 years of continuing PF a/c).
    Also could you share some light on the rule related to continuing PF after resignation and is it difficult to withdraw the money later. What forms need to be filled?
    And last question - if employee withdraws PF money in above example, can the EPS accumulated amount (part of employer contribution) also be withdrawn or will that be paid as pension only after certain age?
    Thanks! for enlightening us with your videos

  • @abhinavtiwari4238
    @abhinavtiwari4238 2 роки тому +7

    Desperately waiting for next election and bjp exit ....no longer want to see them ruling and looting middle class people😔

    • @biswarupbanerjee7247
      @biswarupbanerjee7247 2 роки тому

      So whom you are gonna to vote??

    • @Mohit-zn2rn
      @Mohit-zn2rn 2 роки тому +4

      @@biswarupbanerjee7247 I'll vote for Congress or NOTA but never going to vote this shitty BJP

    • @rohitb405
      @rohitb405 2 роки тому +1

      @@biswarupbanerjee7247 anything but not this scum of a political party

  • @sumersingh4304
    @sumersingh4304 2 роки тому +3

    नेताओ पर भी टेक्स लगना चाहिये

  • @sapna2912
    @sapna2912 2 роки тому +1

    Traded for the first time using my Zerodha account opened using your code. Thank you.

  • @hawasinghpoonia8510
    @hawasinghpoonia8510 2 роки тому +1

    What if a person continues the job with same employer after the age of 60 years and PF contribution continues (now total contribution goes to PF deposits as percentage of pension contribution stopped), does EPFO pays anual interest on the deposits?

  • @swaritsaxena
    @swaritsaxena 2 роки тому +3

    This is very informative video, @Rishib Jain I have a query. I check my Previous employer PF passbook and noticed that that there is no PF credited for an year, but it is deducted from my salary. What are the right steps to get this amount.

  • @sandyozh
    @sandyozh 2 роки тому +7

    Small request. Can you mention the numbers in english instead of hindi..

  • @ChandanSharmaFamily
    @ChandanSharmaFamily 2 роки тому +1

    Only vpf contribution till 2.50 lac should be considered as taxable ...not all epf+vpf amount..
    This govt leaving no stone unturned to make middle class family regret for their votes to BJP..

  • @soumyaranjansethi1790
    @soumyaranjansethi1790 2 роки тому

    Really no words for indian govt so much complex system .

  • @barath2474
    @barath2474 2 роки тому +4

    Atleast speak numbers and technical terms in English. Everybody doesn't know hindi here pls.

  • @abhisekghosh5388
    @abhisekghosh5388 2 роки тому +4

    Hello Rishabh, Mera company + self contribution agar 2.5 Lac se kam hai then it's fine, agar mera additional VPF add karke 2.5 Lac se jyada ho gya to taxable hoga right? including 2 PF books. Regards, LLA's Jagruk Abhisek :)

    • @abir95571
      @abir95571 2 роки тому +1

      Yup your epf+vpf contribution from your end can not exceed your basic , so if we follow the 2.5 lakh rule that means monthly you can put upto 20833 in epf from your end without getting levied any taxes.

    • @keshavgupta129
      @keshavgupta129 2 роки тому

      @@abir95571 is ppf also included?
      Like if epf + ppf goes above 2.5L

    • @abir95571
      @abir95571 2 роки тому +1

      @@keshavgupta129 nope , ppf rules are exactly the same it used to be . This law is only for epf contribution from your end

  • @vinayakkolhapure1817
    @vinayakkolhapure1817 Місяць тому

    Jupiter in 12th house in Leo. I am intuitive and get idea of things going to happen in future in my dreams. Also I am spiritual.

  • @RAJ-lg1re
    @RAJ-lg1re 2 роки тому

    नरेंद्र दामोदरदास मोदी ने 2014 में कहा था कि अरे हमारा क्या हम तो झोला उठाकर निकल लेंगे तुम तो झोला उठाकर निकल loge लेकिन इस देश का मिडिल क्लास अंडरवियर बदलने पर मजबूर हो gya

  • @dpnaturewildlifephotograph6477
    @dpnaturewildlifephotograph6477 2 роки тому

    I think and feel that in second year calculation - the amount in the Second Account will be reset to zero as tax was already paid on excess part in previous year. Due to wrong calculation there is a huge difference in taxable amount in year 1 and year 2 when both income and amount contributed remains the same. Please check.

  • @prafullsingh37
    @prafullsingh37 2 роки тому

    User Behaviour :- If you are using black and white background donot make it movable(it is distracting ) Increase font sizes(user does not have to focus on Nos).

  • @harishjoshi9456
    @harishjoshi9456 8 місяців тому

    Tax on interest - Tax is on contributions more than 250000 or interest earn more than 250000 for that FY? I believe it is on earned interest on contribution not on contribution. Please clarify.

  • @ravishankarkumar4607
    @ravishankarkumar4607 2 роки тому

    कृपया NPS के लिए भी VIDEO बनाए।

  • @s._._.s
    @s._._.s 2 роки тому +1

    Hello Rishabh,
    I really like your videos. Please make one video over pension contribution. Is it necessary if basic is more than 15k?
    Is it mandatory that if previous organisation was adding fund your pension contribution then next company has to follow the same or not !!

  • @prateekkulkarni6780
    @prateekkulkarni6780 Рік тому

    Hi, Thanks for informative video.
    I've a doubt, Let us say a person earns 10LPA & invests 2.5LPA in EPF/VPF. Then his taxable income will be 7.5Lac or 8.5 Lac?
    1) If I consider non taxable contribution of 2.5Lac in EPF/VPF then Taxable amount will be 7.5Lac
    2) If I consider tax exemption wrt old tax regime u/s 80C then his taxable income is 8.5Lac.
    Please share your thoughts on this.

  • @das3154
    @das3154 2 роки тому +1

    Your thumbnail attract me to watch your video when I open yt

  • @milubadhai6133
    @milubadhai6133 2 роки тому

    In case the Employer Company is shut down (8 years ago), Company owner is not traceable, Mobile No., Aadhaar No. PAN No. not submitted to EPF. How to fill the EPF Pension Form. Who is authorised to sign the EPF Pension Form, in case the Employer is not traceable.

  • @r.kessensiaphotography7816
    @r.kessensiaphotography7816 2 роки тому +1

    Best platform to display canada PR ads 😁

  • @MasterChief-nx9oc
    @MasterChief-nx9oc 2 роки тому +1

    Interesting topic and explaination. Joined membership today😌

  • @anilsinghanil
    @anilsinghanil 2 роки тому

    Jitne bhi middle class wale log hain unka epf 150,00 p.a. se jyada hota hi nahi hai. So higher packages wale log Chinta karen.

  • @yogeshpal93
    @yogeshpal93 2 роки тому

    can you please make video on how to do investment in physical assets such as vehicles, equipment and furniture, leased to corporates funds

  • @sangamtripathi-em3qi
    @sangamtripathi-em3qi Рік тому

    Can you please make a detailed video on delay in epf interest credit.This delay is happening every year. There are few points which are confusing
    1) What is the impact on compounding due to delay in interest credit.
    2) Why EPFO interest credit process is delayed.
    3) Can subscribers/contributors of epf can do something regarding this (is there any law to govern it)

  • @nitaachuthan2902
    @nitaachuthan2902 2 роки тому +1

    Very nice video
    Thanks Rishab. Very informative.

  • @rickyrac77
    @rickyrac77 Рік тому

    Very nice video !
    What about VPF ? Will follow the same rules ? 5 yrs etc for tax free returns ?

  • @mokshavora4029
    @mokshavora4029 4 місяці тому

    What if the PF statements shows TDS deducted but there is no such TDS visible on 26AS what to do??

  • @gauravmanchanda8819
    @gauravmanchanda8819 2 роки тому

    Can you please make VPF detailed video, eg- withdrawals/how much can be invested/benefits/demerits and etc

  • @prashantraikar7813
    @prashantraikar7813 Рік тому

    Why there was no petition raised in supreme court for different rules of epf for private and government employees

  • @sbhatiait
    @sbhatiait Рік тому

    Good Video, 1 question, If I invest my 100% of Basic Salary in VPF
    1.Will I get same interest rate on whole amount?
    2.Whole PF+VPF amount after my retirement will be Tax free?

  • @deanwinchester7723
    @deanwinchester7723 2 роки тому

    We need an educated governence who care for the people ..sadly there is none in this country ...

  • @ajaykt8517
    @ajaykt8517 2 роки тому

    Bhai Numbers tho English may boliye.. nice informative video

  • @msuleman7786
    @msuleman7786 2 роки тому +1

    Firstly why govt made PF mandatory; Give the choice to the employees whether they wants to open or not

    • @baa7948
      @baa7948 2 роки тому +1

      Absolutely accurate let the person decide if they agree with this double taxation and really feel the interest rate taxation is the best option for their money this is the worst governance ever

  • @bibhutikumarjha952
    @bibhutikumarjha952 2 роки тому +1

    Quite informative with simple explanation

  • @MrProxymate
    @MrProxymate 2 роки тому

    1) Whether Interest on Employer contribution is tax free up to 7.5 Lakhs or up to 12% with a max limit of 7.5 Lakhs ?
    2) Whether the Tax on taxable interest part on contribution by both employee and employer will be deducted in same financial year or later during withdrawal ?

  • @GurpreetSingh-nw2yp
    @GurpreetSingh-nw2yp 2 роки тому +1

    As a salaried middle class and sole earner, I vow never to vote for this party. Nothing, absolutely nothing for tax payers from last 8 years. Everything is just fkin same from last govt, infact the burden has increased. Just testing patience of common man.

  • @apdesai04
    @apdesai04 2 роки тому

    Good explanation but if elaborate more with example in details will create more clarity

  • @ssaannjjeeeevv
    @ssaannjjeeeevv 2 роки тому

    Instead of making book keeping & people's life difficult, they could have made slabs of PF contribution and tapered interest rates accordingly.

  • @vipulv07
    @vipulv07 2 роки тому

    Can you make a short or video on Alternate Minimum Tax and it's implications on income below/above 20L w.r.t Old and New Income Tax Regime?

  • @PremKumarFourhearts
    @PremKumarFourhearts 2 роки тому +2

    Amazingly made ... Ending question 🔥🔥😍

  • @YashSharma-mv5ee
    @YashSharma-mv5ee 2 роки тому

    Most underrated channel

  • @mohammedshameemrabbani1445
    @mohammedshameemrabbani1445 5 місяців тому

    But while filing tax we have only details of PF contribution made by us and not the contribution done by employer. Cant we claim the pf contribution which is made by employer in our tax file?

  • @amankedia214
    @amankedia214 2 роки тому

    In 2.58, I think values of employer contribution has been swapped. 8.33% shall be for EPF

  • @nikhilgupta8783
    @nikhilgupta8783 2 роки тому

    You answered my doubts in a fluent manner.

  • @matlab8645
    @matlab8645 2 роки тому

    Thanks for your simplicity.

  • @thor7755
    @thor7755 6 місяців тому +1

    Thank you sir..❤️

  • @pkelite3083
    @pkelite3083 Місяць тому

    Why finance minister salary is tax free. Why is she not make rules for politicians.

  • @MrAfzalaziz
    @MrAfzalaziz 2 роки тому

    Employee contribution to PF itself is not exempted from tax ie only till 1.5 L in 80 C, one can avail. Rest employee has already paid income tax for Employee contribution. Now if there is tax on the interest of this amount why should one even opt for PF.

  • @19saxena
    @19saxena 14 днів тому

    I was laid off from my job in covid after 3 years. Withdrew money after 5 years. And it was taxed ... How can I please for exemption

  • @Arunkumar-sp8ne
    @Arunkumar-sp8ne 2 роки тому

    EPF mein paisa dalo, Bank mein paisa dalo, mutual fund mein dalo, online wallet mein paisa dalo....Bhai pura paisa cheen lo hamse. Sach bolraha hun, maine mein 5 tarike baad 1000 ya 2000 bach tha hey middle class walon ki bank account mein ...Frustrated with Govt.

  • @spectimereader
    @spectimereader 2 роки тому

    Sir NPS is not covered under deductions of 80C
    Instead it's from 80CCD, but yeah under section 80CCE , the deductions u/s 80C, 80CCC and 80CCD altogether has a ceiling or maximum limit of 1,50,000

    • @spectimereader
      @spectimereader 2 роки тому

      And yeah, if NPS is done by Central Government's employees then, only after they use Tier II , that amount of Tier II will be under section 80C