New Delhi, Sept. 16 -- The Union Cabinet on Wednesday has after 12 years, approved raising the wage ceiling eligibility for Employees Provident Fund (EPF) coverage by Rs.10,000, from the Rs.15,000 set in 2014, according to a statement from Union Information and Broadcasting (I&B) Minister Ashwini Vaishnaw.

According to an official government release, the ceiling has been hiked in order to "reflect sustained wage growth, rising incomes and continued expansion of formal employment over the intervening years".

Wage ceiling for membership to the EPF Organisation has been raised to Rs.25,000 per month, bringing an additional 51 lakh employees under mandatory provident fund cover, and widening social security coverage for workers. Notably, th...