Siddhartha Retirement Fund (SRF)
Tax exempt benefit...
SRF is a separate wing of SDBL duly approved by Inland Revenue Department of Government under Income Tax Act – 2058. The primary objective of the SRF is to manage the provident fund. Retirement Fund. Welfare fund and others employees and to help them financially on retirement or separation from their jobs.
- Cut off burden of income tax payment, totally beneficial with tax exemption plan.
- Best choice for higher return.
- Professionals Employees, Entrepreneurs and all could join the scheme to make secure future after retirement.
- Amount deposited up to 1/3 of annual income could be accounted for tax exemption.
- Organized institutions can enroll in the scheme by making deposit of:
- Employee Provident Fund (PF)
- Employee Retirement Fund (RF)
- Employee Gratuity, Welfare fund and other funds of employee
- Other features – Can have a demand loan or O/D Limit for a sum equivalent to the President Value of the Cash Flow under the deposit discounted at deposit rate +1.5% ( Normally it is up to 90% of the deposit).