"Why always target middle class?": How twitter reacted with #RollBackEPF

Government on Tuesday cleared air on taxing provident fund withdrawals and said PPF withdrawals will continue to be fully exempt from tax and only interest accruing after April 1 on 60% of the contributions made to EPF will be taxed. 

"There are about 3 crore people whose monthly income is less than Rs 15,000. They are called eligible members of EPF. For this 3 crore people, there is going to be no change in status of taxation. They can withdraw their 100% corpus when they retire without any taxes," Hasmukh Adhia said.

The Budget 2016-17 proposed to tax interest on 60% of EPF withdrawal. However, the withdrawn amount would be totally tax exempt if it is re-invested in annuity pension products.

Giving an explanation on this decision Adhia said, "We are worried about people blowing off the entire 100% amount on retirement and not investing in pension products."

After the announcement, twitter went berserk and expressed disappointment and said that the Modi government is targeting the middle class. This is how twitter reacted:

Either #RollBackEPF or be prepared to get hard slap from middle classes in upcoming elections. Choice is yours.

— Nitin Chavan (@a20nitin) March 1, 2016

Mr. @arunjaitley, If I have to pay tax on EPF, I would like to spend / earn it today instead of locking that amount for years. #RollBackEPF

— Naveen Choudhary (@naveen1003) March 1, 2016

Why always target middle class, why cant govt target Big business empires generating lot of black money in India .. #RollBackEPF ...

— उमा सिंघल (@UmaSinghal1) March 1, 2016

Retirement savings are now a target,there were not meant for foreign tours but for the medical expenses & decent retired life #RollBackEPF

— Haseeb Shah (@haseebshah08) March 1, 2016

At one hand u invest in EPF/PPF to save tax and on other hand ur savings r being taxed during withdrawal. Super logic Modi Govt #RollBackEPF

— Abinash Mishra (@Abinash_2K) March 1, 2016

EPF withdrawal tax is a draconian step. It directly impacts millions of Indians who save for a better future. #RollbackEPF

— Amrit Pal Singh (@justamrit) March 1, 2016

Mr. Modi you have stabbed middle class who made you PM.. #RollBackEPF tax..

— Ravi (@RR4900) March 1, 2016

Failing to deliver on the promises of job & reducing inflation, BJP govt now targets even the savings of middle class #Disgrace #RollBackEPF

— vikash purohit (@vikash_316) March 1, 2016

After so much hard work middle class hardly saves money.EPF was sure saving, govt putting tax on that 2 #RollBackEPF Anti middle class Modi

— Ravi (@RR4900) March 1, 2016

Billions waved off by @arunjaitley for his corporate friends.
Meanwhile he wants to tax Provident Fund Withdrawals.Slow claps #RollBackEPF

— Santoesha Bissesar (@MsSantoesha) March 1, 2016

Dear PM Sh @narendramodi, FM Sh @arunjaitley

1. Please do not deprive me of my retiral benefits
2. This is disappointing!

#RollBackEPF

— Vijay Patil (@vsp888) March 1, 2016

First we pay tax on salary than by means of VAT/Service tax on every purchase and now whatever savings we do is also taxable. #RollBackEPF

— Surbhi Sondhi (@RisingSurbhi) March 1, 2016

For lakhs of middle class families, withdrawing from EPF remain only option in times of crisis. Don't tax dat last resort. #RollBackEPF

— Rasheed Kappan (@kappansky) March 1, 2016