| Splitting Minimum Wages for EPF Not Permissible ??? Posted: 04 Dec 2011 09:05 AM PST 
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) is enacted to provide a kind of social security to the industrial workers. EPF Act mainly provides retirement or old age benefits such as Provident Fund, Superannuation, Pension and Deposit Linked Insurance. Both, employee and employer contribute at specified rate for the scheme. As per section 2(b) of the...  |
| LIFE INSURANCE PREMIUM -MATURITY-TAX -POINTS YOU SHOULD KNOW Posted: 04 Dec 2011 08:30 AM PST 
There is General Perception to taxpayers that All premiums paid for Life Insurance is eligible for deduction under 80C subject to overall Limit of 1.00 Lacs .Further They also think that all sums received from Insurance Company against Life insurance Policy is exempted under section 10(10D). This reason behind it is that on every Insurance Policy or premium receipt ,this wording is printed that...  |
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