New Delhi, Aug. 3 -- The Ministry of Finance has increased its approved wage ceiling for mandatory retirement fund coverage to Rs.25,000 per month, from the current Rs.15,000 limit, according to a Moneycontrol report citing sources.

The source added that this limit has stayed unchanged since it was last revised in September 2014 - almost 12 years back. They added that the new limit aims to expand the Employee Provident Fund Organisation's PF and pension coverage to more salaried workers, as per the report.

Date of implementation will be decided once the Union Cabinet approves the decision, it added.

Livemint could not independently verify the report and official confirmation on the same is still awaited.

At present, employees earning ...