Superannuation fund deduction limit governs employer initial contributions for past services after provident fund adjustment. Initial contribution by an employer to a superannuation fund for past services is deductible only within the prescribed limit under section 29(1)(a). The ... Summary
Superannuation fund deduction limit governs employer initial contributions for past services after provident fund adjustment.
Initial contribution by an employer to a superannuation fund for past services is deductible only within the prescribed limit under section 29(1)(a). The amount is subject to any condition specified by the Board and is capped by a salary-based formula for each year of past service, after reducing any employer contributions made to a provident fund, whether recognised or unrecognised, for the same employee and the same period of service.
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