Govt was forced to listen to people: Rahul Gandhi on EPF
"Finally the Govt was forced to listen to people and roll back the patently unfair tax on EPF," Office of RG tweeted.
Amid pressure from various quarters, Prime Minister also had asked the Finance Minister to examine the Employees' Provident Fund orEPF tax in details. The government had decided to tax 60% of Employees Provident Fund withdrawal on retirement.
Criticising the move, Gandhi said: "But the attempt to tax the safety net of millions of hard working middle class ppl was morally wrong&shows this Govt's anti-ppl mindset."
The finance ministry earlier had hinted that it was not considering any roll back in the proposed taxation of Employee Provident Fund withdrawal even as clamour for its rollback had gained momentum.
The government clarified that only the interest accrued on contributions to employee provident fund made after April 1 will be taxed while the principal will remain exempted from tax.
Ever since the proposal to tax withdrawals from the EPF was mentioned during the Union Budget 2016 , the salaried employees have been voicing their concern while rival politicians demanded its rollback.
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