67% higher EPS pension? How Rs 25,000 EPF wage ceiling could increase your monthly payout
The Department of Expenditure has approved raising the Employees’ Provident Fund (EPF) wage ceiling from ₹15,000 to ₹25,000, pending Cabinet approval. This change could significantly increase the monthly pension under the Employees’ Pension Scheme (EPS) by nearly 67% for employees earning at least ₹25,000 and completing 10 years of service. For example, a worker with 30 years of service could see their pension rise from ₹6,857 to ₹11,429 per month.