New Delhi, Sept. 16 -- Union Labour and Employment Minister Mansukh Mandaviya on Wednesday said the increase in the EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month could benefit between 50 lakh and one crore new beneficiaries by bringing more workers under mandatory social security coverage.

"We estimate that between 50 lakh and 1 crore new beneficiaries will gain from this," Mandaviya said, reacting to the Cabinet decision.

On the implementation timeline, the minister said the higher wage ceiling would be implemented from Thursday, September 17, which marks Vishwakarma Jayanti.

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved raising the wage ceiling for mandatory coverage under the Employees' ...