Congress workers protest at Jantar Mantar against EPF taxation proposal
Congress workers on Monday staged protest at Jantar Mantar against the Central government's recent announcement to tax Employee Provident Fund (EPF).
New Delhi: Congress workers on Monday staged protest at Jantar Mantar against the Central government's recent announcement to tax Employee Provident Fund (EPF).
Congress vice-president Rahul Gandhi , during his visit to Assam last week, has called the new proposal 'unfair' and appealed the government to rethink over it.
The government has come under all-round attack after Finance Minister Arun Jaitley , in his Budget for 2016-17, proposed that 60 per cent of the withdrawal on contribution to employee PF made after April 1 this year will be subject to tax. This would apply to superannuation funds and recognised provident funds including EPF.
He also proposed a monetary limit for employer contribution in recognised PF and superannuation fund at Rs 1.5 lakh per annum for taking tax benefit.
However, there are reports that government may withdraw the proposal following Prime Minister Narendra Modi's interference on the issue. The PM has reportedly asked Finance Minister Arun Jaitley to withdraw the proposal.
If recent media reports are to be believed, the goverment is likely to make the announcement, regarding withdrawal of the proposal on EPF, very soon.