The roll back of the provisions of EPF Taxability , is a step much appreciated by one and all affected tax payers and tax experts.
But if we look at the reasons behind introducing this provisions, one would realise that it was anaborted attempt to plug a huge loophole.

The wealthy salaried employees were contributing the maximum amount possible under the rules , which is 12% of their slalries, without any cap.

All that was required to be done was to put a maximum limit of 150,000 on employee contribution as well. This could have met the good objective of plugging the loophole. In stead , a clumsy provision was drafted and explained in a vague manner, which resulted into sufficient confusion and uproars , leading to its pre matured abortion. The high flying executives have perhaps earned one more tax free gift , at least for one more year. Many will join their club , who have realised that they could also have made merry while the sun was shinnig unabated till now.

But in budget presentations, peace is required to be bought in favor of the vocal fews, anyway.