EPFO Hails Rationalisation of Income Tax Regime for Private Provident Funds

EPFO hails rationalisation of Income Tax regime for private provident funds

New Delhi, Feb 3 (PTI) Retirement fund body EPFO on Tuesday hailed the Budget proposal to rationalise Income Tax regime for provident fund trust and said it will go a long way in serving stakeholders' interests through convergence and harmonisation or norms. The Union Budget (2026-2027) has aligned the income tax framework governing recognised provident funds with the statutory and administrative provisions of the Employees' Provident Funds and …

EPFO Welcomes Rationalisation of Income Tax Regime for Provident Funds

By Our Correspondent NEW DELHI:Recognized Provident Funds are governed by Schedule XI of the Income Tax Act, 2025. At present, there is a divergence in eligibility for exemption under Income-tax provisions and Section 17 of the Employees’ Provident Funds and Miscellaneous Provisions Act,1952. Further, the pattern of investment notified under the Income Tax provisions and EPFO also varies. The limits of the employer’s contribution have not been a…