India wants its PF back.
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Working class Indians contribute upto 10% of their earnings to Provident Fund Savings. Usually, the employer contributes half of it and the employee gets a deduction in his monthly salary for his or her contribution. Up until 2014, We were allowed to withdraw 100% of the hard earned money we had parked in Provident Funds. But the NDA led central govt has limited the withdrawals to 50% and this is taxed. The future is very unpredictable and the hospital expenditures have shot up .Not every family member can be insurance covered and there will be financial emergencies for the near and dear ones. Imagine not being able to help . Or even help yourself. It is your hard earned money ( 50% of your total PF deposits) which is locked away until you turn 59. Doesn't it make sense to have access to your savings all times? What is the use of the money in your account if you cannot use it when the situation is serious? Not all are fortunate enough to manage dependents on salary savings at all times. Join us in supporting the cause. We will convince the PM to relax withdrawal rules so that tax paying Indians are benefitted.
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