PF tax to impact economically weak more

According to the new regulations mandating that PF becomes taxable, most of the impact will be on the economically weak. According to the new bill, employees who earn as little as Rs 2120 per month will also be affected by this new tax regime. From June 1 all workers whose retirement savings is above 30000 per year will be impacted by this new tax regime.

Read the Economic Times news report here.