Section 2(38) Income-tax: Recognised Provident Fund – Meaning

As per Section 2(38) of Income Tax Act, 1961, unless the context otherwise requires, the term “recognised provident fund” means a provident fund which has been and continues to be recognised by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner in accordance with the rules contained in Part A of the Fourth Schedule, and includes a provident fund established under a scheme framed under the Employees’ Provident Funds Act, 1952 (19 of 1952).

Understanding the meaning of term ‘recognised provident fund’ is important, mainly for the purpose of section 80C deduction under the Income Tax.

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Approved Gratuity/ Superannuation Fund: Section 2(5)/ 2(6) of Income Tax


  1. Muhammed salih
  2. Gunjan Singh

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