Has your EPF interest become taxable after latest salary increments? Here's how to check

The mandatory EPF contribution made to an individual account is calculated on the basic salary amount. Post the appraisal season, as your salary hikes, even the EPF contribution will also hike. If the EPF contribution in a financial year (including VPF) exceeds this specified limit, then interest received on excess contribution is taxable.

from Personal Finance News-Wealth-Economic Times https://ift.tt/1XSRiMq