Contribution to voluntry provident fund

jayesh sinha (Querist) 26 February 2012 This query is : Resolved
iam govt servant i want to know if i voluntry contribute to voluntry provident fund under whether it will be come under sec80c of income tax or not because the dealing clerk is adding my vpf under section 80c of income tax kindly advise.

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Guest (Expert) 26 February 2012
All amount of contribution, if it is within the limit prescribed under Sec. 80c, will be eligible for rebate.

V R SHROFF (Expert) 26 February 2012
Compulsory PF is 8% [app]
Voluntarily you can deduct any amt till 30%
you will gerI Tax rebate for say 20% Max [ pl confirm exact % for tax free u/s 80c, with pr dept, ur company]

Raj Kumar Makkad (Expert) 26 February 2012
Compulsory deduction is 12% up to the wage limit of Rs. 6500/- per month.

Voluntary deduction over this statutory limit shall also be eligible for the computation of limit under section 80c.

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