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EPF withdrawal tax row: What furious trade unions are saying

Thu March 03 2016, 7:11 am
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    The unions have claimed that this year's strike will be bigger as the number of striking workers is expected to swell to as much as 18 crore, larger than last year when around 14 crore workers participated.

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    1. EPF withdrawal tax controversy: Furious central trade unions have opposed the Budget 2016 proposal to tax EPF withdrawals and as many as 11 of them have planned to go on a nationwide strike on March 10 to protest against government's unilateral labour reforms and anti-worker policies including taxation of EPF withdrawals. (Image Source: Reuters)

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    2. EPF withdrawal tax controversy: "This is an anti-worker budget proposal. Taxing PF means double taxation. PF is deducted from a salary on which workers have already paid tax... Tax should be imposed on new income. PF accumulation are not generated or new income," BMS General Secretary Virjesh Upadhyay said. (Image Source: Reuters)

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    3. EPF withdrawal tax controversy: Upadhyay said BMS would write to Prime Minister Narendra Modi and Jaitley to protest against these proposals and demand to roll those back. (Image Source: Reuters)

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    4. EPF withdrawal tax controversy: All India Trade Union Congress General Secretary Gurudas Dasgupta said this issue would be raised by left parties in Parliament while debate on the Budget. At present, social security schemes run by retirement fund body EPFO fall under Exempt-Exempt-Exempt scheme in which deposits, accrual of interest and withdrawals are tax free. (Image Source: Reuters)

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