So government of India is trying to save Rupees from falling, to save share market from falling, to save inflation. See they are considering to increase PF on gross salary not only basic. But is it really reason for that?
Sometime before government planned to use PF money in share market it helps shares for some time. But without a strong and proper policy the effect was short lived. Now government is planning to get more money but increasing PF amount. Who will be affected by this? We the common men. Companies will not increase your salary the increased PF amount will reduce cash salary which we can spend and will give government opportunity to use this money in share market or their uncontrolled expenses and useless policies like free mobile, laptop etc.
This is the dictatorship only. Compel common men to pay more money (it can’t be called tax as it is your money) but like New pension scheme it will be depended on share market then what will happen if a employee requires its PF and market is low. Moreover it this inflation we want more money to spend but government is planning to reduce money in hand. For government employee it increase 10% DA but what about private sector employees. Whether we are not citizen of India? Why can’t government think about us?
Companies will not give more money because they are for profit. So increasing PF amount will reduce salary only. This is a useless and unplanned scheme like past schemes it is short termed. It will help market in short period but after that the excess money will be fetched outside India by FIIs. I think it is time when government must think properly and make a proper scheme to help market and people. Getting money by force is not the option for every time.