EPF contributions
1 Your provident fund contribution of 12% of basic pay is split into various components, including an administrative charge.
2 8.33% is contributed towards Employees Pension Scheme (EPS), with a cap of `1,250 or 8.33% of `15,000.
3 The balance amount is contributed towards Employees Provident Fund (EPF). If your contribution of 12% amounts to `2,000, `750 goes towards the EPF after `1,250 goes towards EPS.
4 The employer matches the 12% contribution and this is usually included in the cost-to-company calculations.
5 1.61% is recovered towards deposit insurance and administrative charges for EPF and EPS. This is deducted from your salary bundled with your PF contribution.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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