TDS (Tax Deducted at Source) aims to collect tax at the source of income.
Both salary accounts and savings accounts offer a passbook facility.
Employee benefit insurance plans are typically low or no-cost for employees.
The EPF&MP Act says that 24 per cent of an employee’s salary is contributed to the EPFO.
Before deducting the TDS, your employer asks you to provide tax saving proofs in order to adjust the TDS.