Provident Fund wage ceiling rises to ₹25,000, first revision since 2014
- The Union Cabinet has raised the Employees’ Provident Fund Organisation EPFO wage ceiling from ₹15,000 to ₹25,000 per month.
- The hike, the first in 12 years, is expected to bring around 51 lakh more workers under EPFO coverage.
- The move will expand access to provident fund, pension and insurance-linked social security benefits for eligible workers.
- The government’s annual expenditure is expected to rise by ₹1,089 crore due to the wider coverage.
Source: ndtv.com
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