Cabinet raises EPFO mandatory coverage wage ceiling to Rs 25,000; 51 lakh more workers to benefit
New Delhi, Sept. 16 -- The Union Cabinet on Wednesday approved an increase in the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) to Rs 25,000 per month from Rs 15,000, a move expected to bring more than 51 lakh additional employees under mandatory social security coverage.
The decision was announced by Union Minister Ashwini Vaishnaw during a briefing following the Cabinet meeting.
According to a release issued by the govt, the proposal to raise the wage ceiling by Ministry of Labour and Employment was approved by the Union Cabinet chaired by Prime Minister Narendra Modi.
At present, a fresh employee joining employment with wages above Rs 15,000 per month is not automatically covered under t...
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