PF interest on employee contributions towards PF+VPF above Rs. 2.50 lakh is taxable. Have few questions:
- From which financial year it tis to be considered?
- What rate to be considered for the purpose of calculation?
- Whether interest is to be calculated on monthly bearing balance?
- Is it employers responsibility to include in taxable income & deduct TDS?
- GreytHR is not calculating this automatically. Is their any settings or configurations?
Would appreciate reply on these queries as we have to finalise tax working for FY 21222.