Provident Contribution part of CTC not showing on IRP 5
By Alicia Human · Updated
Dear Tax Tim
I am contribution provident fund via my employer on a monthly basis. This forms part of my CTC and does not show on my IRP 5 but shows on my YTD salary report as a contribution monthly as well as on my payslip. Can I claim a tax refund from this and if so how do I do it.
I am contribution provident fund via my employer on a monthly basis. This forms part of my CTC and does not show on my IRP 5 but shows on my YTD salary report as a contribution monthly as well as on my payslip. Can I claim a tax refund from this and if so how do I do it.
Your provident fund contribution should appear on your IRP5 if you pay for it via your employer - the code under deductions should be source code 4003. However there is no tax deduction for Provident Funds unfortunately, for the 2016 tax year.
However, this has changed from 1 March 2016 - please read our blog on the New Retirement Fund Tax Laws
However, this has changed from 1 March 2016 - please read our blog on the New Retirement Fund Tax Laws