The record
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- The Union Cabinet approved an increase in the statutory wage ceiling for mandatory Employees’ Provident Fund Organisation coverage from 15,000 to 25,000 rupees a month.
- This policy change takes effect from September 17 and is expected to include 51 lakh additional employees under the social security net.
- Employees affected by this change may see a reduction in their monthly take-home salary due to higher mandatory contributions.
- The revision is intended to provide broader access to provident fund savings, pensions, and insurance-linked benefits.
What to watch next
- Impact of the higher wage ceiling on individual employee monthly take-home pay
- Calculation adjustments for employer contributions to the Employees' Pension Scheme
- Potential further changes to pensionable salary and service rules following the hike
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Named India · Augustine George Masih · B.V. Nagarathna · Employees' Provident Fund Organisation · Ministry of Labour and Employment · Supreme Court · Union Cabinet
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