Serious resentment among employees against Budget proposal to levy Income Tax on withdrawal of 60% of provident Fund
NFIR
National Federation of Indian Railwaymen
3, CHELMSFORD ROAD, NEW DELHI – 110 055
Dated: 05/03/2016
Shri Narendra Modiji
Hon’ble Prime Minister of India,
152, South Block,
Raisina Hill
New Delhi – 110011
Sub: Serious resentment among employees against Budget proposal to levy Income Tax on withdrawal of 60% of provident Fund – reg.
The employees in general and
Rail Workforce in particular are extremely unhappy over the Budget
proposal presented by the Hon’ble Finance Minister to impose Income Tax
on 60% of Provident Fund withdrawals. This proposal if enforced would
cause harm to the workers at
their fag end of service on superannuation.
Hon’ble Prime Minister may
please appreciate that the employee withdraws his/her legitimate
Provident Fund for meeting the requirements of Children Education,
Construction of house or for the purpose of performing marriages of
children. Levying Income Tax on these
withdrawals that too when the
Provident Fund amount is recognized to be the property of the worker,
would be unethical. The employees are deeply disappointed over the
Budget proposal to impose Income Tax on P.F. withdrawal.
NFIR, therefore appeals to the
Hon’ble Prime Minister to kindly intervene and see that the above
proposal is reconsidered and withdrawn in the interest of industrial
peace in the Country.
Yours sincerely,
sd/-
(Dr.M.Raghavaiah)
General Secretary
