Posts

Showing posts with the label Tax Savings

Tax Advantages of Mandatory Provident Fund

Image
The Statutory Provident Fund, also known as the General Provident Fund (GPF), was established under the Provident Funds Act of 1925. This fund primarily caters to government employees, universities, recognized educational institutions, railways, and other qualifying entities. Explore the tax advantages of a Mandatory Provident Fund. Learn how this financial tool can help you save on taxes and secure your future. 📦⚖️💼 Swipe >>> For more information, please write to us at support@kanakkupillai.com or visit https://ibit.ly/21olz. Contact us - https://wa.me/917305048476 The tax treatment for employees regarding this fund involves several essential aspects: Tax-Exempt Interest:   Interest credited during the financial year is tax-exempt, providing a significant benefit to employees. This tax exemption means that the growth of the provident fund remains untouched by taxation, ensuring that employees' savings can compound more effectively. Tax-Exempt Withdrawals: When employee...