Save more in PF, but take home less as salary - NewsX

NewsX@9 is a NewsX special show which debates the main news event of the day. It's the government's sneak attack on the common man's wallet. In an innocuous circular issued last month, the government changed the rules of the Employee Provident Fund in such a way that it wins, and you lose. Essentially it is another tax that the government has silently imposed on its citizens. Historically, most companies have been computing provident fund contributions against basic salary and dearness allowance only. But now, according to the new rules, various allowances, like medical, conveyance, paid to employees will have to be added back to the basic salary and provident fund contributions will be computed against this higher value. This, in turn, will mean a lower take home pay. So we debate today - Is the UPA milking the aam aadmi to pay for its pet projects? We debate this on the show and try to evolve consensus among our panelists over the issue. Watch this NewsX debate special show NewsX@9.

For more log on to http://www.newsx.com