Srinagar, Nov. 4 -- Two months back in September, authorities made the changes in the labour welfare scheme by raising the bar for who must be covered by retirement protection. The wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) has been raised from INR 15,000 to INR 25,000 a month.

The limit had not moved since 2014. The change is expected to bring over 51 lakh more employees into the system.

Wages and living costs have constantly risen in the previous year due to global geopolitical instabilities, and a ceiling that once captured the average salaried worker had begun to leave out many people who earn modestly but are far from secure. For them, a Provident Fund (PF), a pension and life insura...