PF allowed as Deduction under Section 80C or 80CCD?

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  1. AbhishekTiwarii

    AbhishekTiwarii New Member

    I got few questions :
    1. PF comes under 80C and NOT under 80CCD?
    2. PF both employee and employer contributions are counted in 80C or only one out of two?

    Regards
    Abhishek
     
  2. lovey mehra

    lovey mehra New Member

    Pf comes under section 80c
    Only employee contributions count for section 80c. Employer contributions are as it is non taxanle
     
  3. AbhishekTiwarii

    AbhishekTiwarii New Member

    Thanks Lovely.
    I am still confused though. Sorry , poor in finance.

    u/s 80C
    1.If the employeer contribution is amount Rs. X. Then for 80c, I can still investement Rs(1.5lakh -X) amount of investement? to get full benefit?

    u/s 80CCD
    1. I can make additional investment of Rs. 50 thousand under pension?
    If so, what are the mechanism to make such investment in pension. Could you please let me know the details

    Regards
    Abhishek
     
  4. Yatin Gandhi

    Yatin Gandhi Active Member

    1. Yes, your understanding about 80C is correct.
    2. For additional deduction of Rs. 50,000 under Section 80C - you can only invest in NPS Account
     
  5. AbhishekTiwarii

    AbhishekTiwarii New Member

    Thanks Yatin for the advice and reply.
    I goofed up my reply a little

    I wrote
    "1.1.If the employeer contribution is amount Rs. X. Then for 80c, I can still investement Rs(1.5lakh -X) amount of investement? to get full benefit?"
    I meant - If the employee contribution NOT employeer
    So, My understanding still hold true?

    2.NPS Account - How can I get access to this? I have no idea. Please reply

    Regards
    Abhishek
     
  6. Yatin Gandhi

    Yatin Gandhi Active Member

    1. Both the employee and the employer contribution would be allowed to be claimed as a deduction under Section 80C
    2. You can open the NPS Account either directly with the govt or with your banker
     
  7. AbhishekTiwarii

    AbhishekTiwarii New Member

    Yatin. Thanks!!
    Though its raised my confusion again.
    Could you please refer an answer above in the mail chain :

    "Only employee contributions count for section 80c. Employer contributions are as it is non taxanle"

    So this and what you mentioned are contradictory. Could you please help

    regards
    Abhishek
     
  8. Yatin Gandhi

    Yatin Gandhi Active Member

    Oops... Sorry...

    Only employee contribution is considered under Section 80C and not employer contribution
     
  9. AbhishekTiwarii

    AbhishekTiwarii New Member

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