Retirement Benefits – Provident Fund
Benjamin
Franklin has succinctly said that in this world nothing is certain but death
and taxes.
On
the day of retirement every employee smarts under a sense of injustice. He is
forced to make room for someone younger (and possibly half-baked) just when he
has reached the pinnacle in competency. We complain profusely against the brain
drain resulting from our children leaving India for greener pastures abroad.
There is a colossal brain drain resulting from forcing a person to become
suddenly unemployed just because he has reached a certain age. Be that as it
may, it is necessary to plan for this eventuality. You must know not only the
quantum of the various terminal benefits but also the related tax implications.
The foremost amongst all retirement benefits is of course one’s provident fund
(PF). Let us take a good look at the various provisions related to PF.
Source | Free Press | 23 January 2017
Regards
Pralhad
Jadhav
Senior
Manager @ Library
Khaitan & Co
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