Your employer matches your EPF contribution every month. The employer’s amount can be used for a tax deduction.
Many companies offer FBP as part of your CTC. Common FBPs are: - Fuel expense - Telephone/internet bill - Food expense (Sodexo, now Pluxee) - Leave travel allowance
If you provide a receipt of your phone bill, internet bill, fuel expenses, etc., you can reduce your taxable income even further.
Though not compulsory, your employer can contribute to the NPS. They can contribute up to 10 per cent of your basic pay. This amount is eligible for tax deduction.
- Increase your basic pay. It will increase the employer’s EPF/NPS contribution. As a result, it will reduce your tax outgo - Check if your employer offers flexi benefit plan.
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