| Particulars | Employer's Contribution | Employee's Contribution | Income Credited | Lump-sum payment received at the time of retirement or termination of service or withdrawal | | Statutory Provident Fund | Not taxable | Eligible for deduction under section 80C | Fully exempt | Exempt under section 10(11) | | Recognised provident fund | Not taxable up to 12% of salary | Eligible for deduction under section 80C | Exempt up to 8.55%(Financial Year 2017-18) | Exempt from tax under section 10(12)
Subject to conditions: not taxable if employee retires after 5 years of service or due to inability to work. Otherwise treated as URPF | | Unrecognised Provident Fund(URPF) | Not Taxable | Not eligible for deduction under section 80C | Not taxable at the time of credit | Employee's contribution exempt from tax and interest thereon is taxable under the head 'income from other sources'.
Employer's contribution and interest thereon is taxable as 'Profits in lieu of salary' under the head "Salaries". | | Public Provident Fund | Employer does not contribute | Eligible for deduction under section 80 C | Exempt from tax | Exempt under section 10(11) | | National Pension System | Taxable as salary and deuctible up to 10% of employee's salary under section 80CCD(2) | Eligible for dedcution under sections 80CCD(1) [10% OF salary] and 80CCD(1B)[RS. 50000] | Exempt from tax | 40% OF NPS corpus tax exempt on lump sum withdrawal on closure of account. |
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