67% rise in EPS pension for these employees as wage ceiling hike to Rs 25,000 gets cabinet’s approval
The central government approved a wage ceiling increase for Employees' Provident Fund coverage to ₹25,000 from ₹15,000, impacting many organized sector employees. Union minister Ashwini Vaishnaw stated the annual cost will be around ₹11,339 crore, with EPS pensions potentially rising by 67% for those completing five years under the new ceiling. This change aims to enhance social security coverage.