The move is aimed at encouraging the lower-middle and middle income salaried classes to save more via EPFO and enable them to build a reasonable retirement kitty. The FY22 budget imposed a Rs 2.5 lakh ceiling on voluntary contribution, above which the interest accrued is taxed. The move was targeted at high-income employees using the facility to earn tax-free interest exceeding that on bank or fixed deposits. Read The Rest at :
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