Bengaluru CEO criticises tax on severance pay after Visa layoffs: ‘No unemployment benefits or income support’
Sanket Sheth, founder and CEO of Kreative Kode, criticized the taxation of severance pay after Visa layoffs in a LinkedIn post.
Sheth noted that salaried employees in India pay taxes monthly but receive no unemployment benefits or income support.
He argued that severance pay, intended to support laid-off employees, is taxed like a bonus at a flat 30%.
He stated that the money from severance is meant for essential expenses like school fees, medicines, EMIs, and groceries, and should not be treated as ordinary income.
The post received widespread support from LinkedIn users in the comments section.
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