## Types of Provident Fund
| Fund | Brief |
|---|---|
| Statutory PF (SPF) | Constituted under the Provident Fund Act, 1925 – applicable to Govt./semi-Govt., universities etc. |
| Recognised PF (RPF) | Recognised by the Commissioner – applicable to private organised sector. |
| Unrecognised PF (URPF) | Set up by employer but not recognised by IT authorities. |
| Approved Superannuation Fund (ASF) | Approved by Commissioner – usually a pension scheme. |
## During Service
| Item | SPF | RPF | URPF | ASF |
|---|---|---|---|---|
| Employee Contribution | Ignore | Ignore | Ignore | Ignore |
| Employer Contribution | Exempt | Exempt upto 12% of Salary (excess taxable) | Exempt | Exempt upto ₹7,50,000 p.a. combined (excess taxable) |
| Interest on Employee Contribution | Exempt | Exempt upto 9.5% p.a. | Exempt | Exempt |
| Interest on Employer Contribution | Exempt | Exempt upto 9.5% p.a. | Exempt | Exempt |
Employee's own contribution is paid out of taxed salary. Deduction is claimed under Chapter VI-A (80C) where applicable.
Salary for 12% RPF test = Basic + DA(forming part) + CT.
### Additional Taxability on PF Interest
Interest on employee's own contribution above ₹2,50,000 p.a. (or ₹5,00,000 p.a. if no employer contribution) is fully taxable – reported under Salary (RPF/SPF) or IFOS depending on context.
## At Retirement / Withdrawal
| Fund | Treatment of Lump-sum |
|---|---|
| SPF | Fully Exempt |
| RPF | Fully Exempt if (a) employee has rendered ≥ 5 years of service, OR (b) service < 5 years but separation due to ill health / discontinuation of business / transfer of balance to new employer's RPF. Otherwise – tax as if it had always been URPF. |
| URPF | Employee Contribution: Ignore (already taxed). Employer Contribution: Taxable under Salary. Interest on Employer Contribution: Taxable under Salary. Interest on Employee Contribution: Taxable under IFOS. |
| Approved Superannuation Fund | Fully Exempt |