Tag Archives: Salary

Employees Provident Fund (EPF)

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Provident Fund is a scheme designed and controlled by Government of India for the Indian taxpayers. The primary purpose of this scheme is to secure post-retirement tenure of taxpayers. Investment in Provident Fund is classified in 2 broad types- Employee’s Provident Fund (EPF) – For salaried taxpayers only. Public Provident Fund (PPF)… Read more »

Make sure you get your medical reimbursement!

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A medical allowance is an allowance provided under the Income tax Act, which states that any employee can submit the bills of any medical treatment undergone by him for himself or his family members. The limit for the allowance is Rs. 15,000. The medical allowance may be paid to the employee… Read more »

House Rent Allowance

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Q. What is House Rent Allowance (HRA)? Ans.: If a taxpayer is a salaried person and living in a rented house, then certain sum of money is paid to him every month by his employer as Allowance against accommodation. The very purpose of paying this allowance is to meet the… Read more »