EPFO Wage Ceiling Raised to ₹25,000 from ₹15,000
· India · LiveMint, Times of India, The Hindu
India’s cabinet has approved raising the wage ceiling for Employees’ Provident Fund (EPF) coverage from ₹15,000 to ₹25,000 per month, announced by Information Minister Ashwini Vaishnaw. The decision, effective immediately, expands EPF eligibility to include more salaried employees earning up to ₹25,000. This change will extend social security benefits to an estimated additional 3 million workers, as per government estimates. The move aims to broaden formal sector participation and improve retirement savings coverage. The exact implementation timeline for employers and employees remains under review by EPFO authorities.
Why it matters
Around 3 million additional workers will gain access to EPF benefits, strengthening their retirement savings and formal employment status. This decision also encourages more informal sector workers to transition into formal jobs, potentially boosting tax compliance and social security coverage nationwide.
Read the original report — LiveMint
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