I am a salaried individual and earn almost Rs 200k(Gross) per month. Recently switched to a new company. The SSF scheme is also new to me. My past company had PF, CIT.
I did some basic calculation, and it seems I will be paying more than 30k per month as income tax and almost similar amount as SSF. Unfortunately, my family has huge amount of loans, and I am paying the EMIs. It saddens me to lose so much of my hard-earned money as tax and SSF when I could have used those amounts to pay my loans.
Do I have any option to avoid paying a lot of income tax? I know CIT is one of them, but I have heard they don’t allow CIT if you are enrolled in SSF?
Also is it true that I can’t withdraw my SSF after I leave my current job?