March 2017 Current Affairs
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November 2016 Current Affairs
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Union Government announced to withdraw tax proposal on Employee Provident Fund

Union Government announced to withdraw tax proposal on Employee Provident Fund
08 March 2016 Current Affairs: The Union Minister announced in Parliament that the proposal to tax 60 per cent of Provident Fund (EPF) withdrawals. He announced to withdraw the proposal while clarifying NDA government’s stand on the issue in the Lok Sabha.He further stated that government would also like to comprehensively review EPF tax proposal. However, government retained the tax proposal for National Pension Scheme (NPS) withdrawals.The proposal was made by the Union Finance Minister Arun Jaitley while presenting the Union Budget 2016-17 in the Lok Sabha on 29 February 2016. As per the proposal 60 percent of the amount deposited in the EPF account of the employee would be taxable at the time of withdrawal, and 40 percent would be tax free. This proposal would have become effective from 1 April 2016.The proposal to tax EPF withdrawals was made with an aim of to create a pensioned society, especially among employees in the private sector who have no provision for pension.The EPF is a retirement benefit scheme for salaried employees. Any company with over 20 employees is required by law to register with the Employees' Provident Fund Organisation (EPFO)


March 2017 Current affairs
23 MAR
NEWS
22 MAR
NEWS
21 MAR
NEWS
20 MAR
NEWS
18 MAR
NEWS
17 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
NEWS
25 FEB
NEWS
24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
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26 NOV
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25 NOV
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24 NOV
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