Economy
Union Cabinet hikes EPFO wage ceiling to ₹25,000 per month
The Indian Express14h
THE BRIEF
1
The Union Cabinet approved raising the Employees' Provident Fund Organisation wage ceiling from ₹15,000 to ₹25,000 per month, effective Thursday on Vishwakarma Day.
2
The revision brings over 8 crore workers under mandatory retirement fund contributions and caps the monthly pension contribution at ₹2,080.
3
The policy change is expected to incorporate an additional 51 lakh employees while increasing government pension outlays by ₹1,089 crore annually.