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of <h1>Rule 75 caps provident fund contributions; limits vary based on voting power and salary. Check conditions for compliance.</h1> Rule 75 of the Income Tax Rules, 1962, sets limits on contributions to recognized provident funds. If an employee owns more than 10% voting power in their company, combined monthly contributions from both employee and employer cannot exceed Rs. 250. For employees earning up to Rs. 500 monthly, the employer's annual contribution cannot exceed twice the employee's contribution. Additionally, contingent contributions by employers cannot surpass the employee's contributions unless they are bonus contributions mandated by an Industrial Tribunal, court order, or agreement, applicable to employees earning Rs. 500 or less per month.
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