Tax benefits to continue for PF interest beyond the job

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Sir, 

This is in reference to the news article: 

http://www.financialexpress.com/money/warning-your-epf-account-will-now-be-taxable-if-you-have-quit-or-retired-from-job/935448/ 

We would like to bring in your notice that today we are living in a world of job uncertainties  like never before. Jobs are not permanent and pink-slips are common across the sectors. According to some news reports, in CY 2017 itself, IT sector retrenched about 56000 employees. Telecom sector was even worse hit. At times, situations do arise when it is not in the hands of individual to continue employment on respectable  terms.  

EPF is a saving tool that gives a sense of security and it is in the interest of individual, dependents and society at large, that EPF savings are protected and not withdrawn immediately at the time of untimely termination of  employment.  

Tax benefits would be a big encouragement for individuals to continue their investment on this retirement saving tool.

Request you to please do the needful in the upcoming budget about it.

Kind regards, 



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