My daughter has started work in a hospital and they started deduction for EPF monthly basis. It is now almost 8 months. Do i need to calculate the EPF Interest (8.25%) as income when i file her ITR 24-25. Amount deduction from her salary towards EPF is Rs 2000. Kindly advice
Hello @Srikanth
Yes, you need to calculate the EPF interest, but since the contribution is below ₹2.5 lakh, the interest earned will be exempt. Further, it is recommended that you show the same as Exempt Income while filing the ITR.
Hope this helps!