Geeta Shridhar 10 February 2025
I want to enquire that we have curretnly LIC trust for Superannuation, now from 1st April'2025 onwards we would like to stop the providing of superannuation to new employees, although we have mentioning in service bylaws and we would be changing the trust deed as well. Kindly provide your inputs if it can be done with no obligations at our company
T. Kalaiselvan, Advocate (Advocate) 10 February 2025
The employer cannot stop contributing to the superannuation trust , once it is formed is formed. Contribution can only be stopped once the trust is closed. Payment of superannuation amount is not taxable under the following circumstances: If the payment is made after the death of the employee to their heirs
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