I have been employed for more than 20 years and now I wish to retire prematurely at 45 years. WHY CANT I WITHDRAW EMPLOYER SHARE WHICH WAS A PART OF MY CTC? The govt has no right to teach me where to invest. I know my priorities and I am educated enough where to invest and where not to. The govt should instead concentrate on old age pension which is still a dream for many, children's education and healthcare and I am sure that by taxing PF, it will not be able to generate even a fraction of the funds required to meet these objectives..
If it is unconditionally withdrawn it is good for BJP. Otherwise I can give guarantee that after 2019 BJP will be visible only with telescope as it happened after the selling activities of Yasovant Sinha. BJP's anti middle class image will be disastrous for them.
Not sure why all the people are talking only about tax on EPF Withdrawal. No one is talking about the age limit and only 50% withdrawal limit notified before the budget. These both things are not in the interest of the salaried people. The age limit is a retrospective decision. There are many people who have corpus in the EPF for long time and if they think to withdraw the money for doing business, buying home , child marriage..they can't do it. People were putting money in EPF thinking they can withdraw the corpus in case of the valid situations. Another issue is, if someone is hospitalized and need money..he cannot withdraw from EPF? Government want them to take loans or die without money? It is should be solely upon the individuals decision and government cannot dictate terms. I feel really sad when government says that only 60lakh people out of 3.6crore will be affected by the tax on 60% corpus. So, this means those earning below 15,000 permonth will not get increments in future? or government want them to live with 15,000 salary througout? PM should intervene in the interest of larger people and their families which is close of 10 crore and revert back both the notifications.
Re: Revert back age limit and tax on epf!!
by Muhammed on Mar 07, 2016 12:28 PM
Absolutely valid. NAMO, beware of the severe backlash in case you persist with the horrendous EPF proposed rules.
It is unfortunate that every government tries to find out short cut ways to earn revenue. Salaried class is squeezed like lemon in every budget instead of finding ways to expand tax net to other class. Now a days even a small shopkeepers earn more than 5 lakh a year but they are never touched. they are making black money easily without paying any penny on account of Income Tax.
From Yr. 2004, Govt has stopped GPF and has included all post 2004 recruit in EPF. So let be correct your Mr Rediff, correct your figure and include numbers from said units also. Anyways, Ex-Dean IIM, Tax Consultant (Mukesh Patel) & one of BJP ministers (Sh Jaynarayan Vyas) called super-3 for tax analysis, they have given a good word for this tax - 'Monster Tax'. Rediff add this word in your dictionary too.
From Yr. 2004, Govt has stopped GPF and has included all post 2004 recruit in EPF. So let be correct your Mr Rediff, correct your figure and include numbers from said units also. Anyways, Ex-Dean IIM, Tax Consultant (Mukesh Patel) & one of BJP ministers (Sh Jaynarayan Vyas) called super-3 for tax analysis, they have given a good word for this tax - 'Monster Tax'. Rediff add this word in your dictionary too.
I really thought this government was better than the other but this is a Classic example of how people could be made against you. I am antibjp now... Sorry guys I say this with a heavy heart..
He is one of the big mole in govt. cannot even win a municipal election, if he does not take back EPF taxation, BJP will loose its ground in salaries people too, they have already lost their vote bank of lower and middle class.
