Bowing to the strong and widespread anger and opposition against the Budget proposal to tax the EPF withdrawal, the Finance Minister has been compelled to withdraw the anti-worker proposal. Arun Jaitely today announced that the proposal has been withdrawn.
It is also necessary that similar tax on withdrawal of NPS (national Pension Scheme) also should be dropped. About 3.26 crore EPFO subscribers will benefit due to the roll back of the anti-worker proposal. This is victory for the working class.