epf ecr file format in excel download 2018

If an employee’s salary is Rs.15,000 or more, the employer’s 12% contribution is divided into two parts.Ĩ.33% of Rs 15,000 goes to EPS account. 1,250.īreakup of Contribution if Salary is above Rs.

Employer contribution to EPS: 8.33% of salary subject to a ceiling of Rs.

Employer contribution to EPF: 3.67% of salary.

Employee contribution to EPF: 12% of salary.Contribution Rate for Employee’s Salary up to Rs.15,000 This rate is valid for all deposits made from 1st April 2022 to 31st March 2023. The EPF Interest Rate for 2022-23 is fixed at 8.15%. The TDS rate has been reduced from 30% to 20% on taxable withdrawal of EPF for individuals who do not posses PAN. For the FY 2022-23, the interest rate notified is 8.15%.

The government reviews the interest rate on EPF accounts regularly. On retirement, the employee receives a lump sum corpus of EPF, including the employee’s contribution, employer’s contribution and the interest amount credited every year. An employer also contributes to the employee’s EPF account. As per the EPF scheme, the employer deducts a certain amount of contribution from the employee’s salary and deposits in his or her EPF account. The scheme applies to those who are employed.

Income Tax Deductions List - Deductions on Section 80C, 80CCC, 80CCD & 80D - FY 2021-22 (AY 2022-23)Įmployee Provident Fund (EPF) is a retirement benefits scheme framed under the Employees Provident Fund & Miscellaneous Provisions Act, 1952.

Budget 2020 Highlights : PDF Download, Key Takeaways, Important Points.

Section 80G – Donations Eligible Under Section 80G and 80GGA – 80G Exemption List.Budget 2022 Highlights : PDF Download, Key Takeaways, Important Points.Budget 2023 Highlights: PDF Download, Key Takeaways, Important Points.Budget 2023 Expectations For Income Tax: 80C & 80D Limit Increase, Tax Slab Changes For Salaried Employees.Which Is Better: Old vs New Tax Regime For Salaried Employees?.

Epf ecr file format in excel download 2018