New Delhi, Aug. 5 -- The government may be set to revise the Employees' Provident Fund (EPF) wage ceiling for the first time in over a decade, a move that could expand retirement benefits for lakhs of salaried employees.

Department of Expenditure has approved a proposal to raise the EPF wage ceiling from Rs.15,000 to Rs.25,000 a month, Moneycontrol reported, citing a government source. The proposal, however, is yet to receive approval from the Union Cabinet, after which it will need to be notified before taking effect.

The existing wage ceiling of Rs.15,000 has been in force since September 1, 2014. It determines the salary up to which employees are mandatorily covered under the EPF and the Employees' Pension Scheme (EPS).

If the propo...