Employer contribution cap to retirement funds: excess employer contributions taxable and related accretions treated as perquisite. A combined upper limit is proposed on employer contributions to the National Pension Scheme, superannuation funds and recognized provident funds; employer ... Summary
Employer contribution cap to retirement funds: excess employer contributions taxable and related accretions treated as perquisite.
A combined upper limit is proposed on employer contributions to the National Pension Scheme, superannuation funds and recognized provident funds; employer contributions exceeding the combined cap in a year will be taxable, and annual accretions to the fund relating to such employer contributions shall be treated as a perquisite to the extent included in total income.
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