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Payment from Statutory and Public Provident Funds (SPF/ PPF/ RPF) - [Section 10(11) and 10(12)]

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..... e. RPF, Superannuation Fund NPS). therefore, in excess of Rs. 7,50,000 is taxable in hands of employees u/s 17(2)(vii). Not taxable at the time of contribution Employee s Contribution Deduction u/s 80C available Deduction u/s 80C available Deduction u/s 80C available Not eligible for Deduction u/s 80C Interest Credited Fully Exempt Fully Exempt In excess of 9.5% is taxable as salary --- Amount rec .....

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..... uous service for a period of 5 years or more, then his service must be terminated by reason of ill health or discontinuance of the employer s business or other cause beyond the control of the employee Note: If employee gets transfer of balance of RPF with another employer who also maintains RPF then the period of service under former employer shall also be included in calculating the period of con .....

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..... rom the National Pension System Trust to an employee on closure of his account or on his opting out of the pension scheme referred to in section 80CCD is exempt, to the extent it does not exceed 60% of the total amount payable to him at the time of such closure or his opting out of the scheme. Section 10(12B) :- any payment from the National Pension System Trust to an employee under the pension sc .....

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