New EPF wage ceiling: What changes for your PF, pension and insurance
New Delhi, Sept. 20 -- The Centre has raised the wage ceiling for mandatory Employees' Provident Fund Organisation (EPFO) coverage from Rs.15,000 to Rs.25,000 a month, according to a gazette notification issued on Thursday.
The revised ceiling, effective from 17 September, will bring more employees under mandatory provident fund coverage. It was last revised in 2014 from Rs.6,500 to Rs.15,000.
The change will affect not just provident fund contributions, but also pension eligibility and Employees' Deposit Linked Insurance (EDLI) benefits.
Employees' Provident Fund (EPF) membership is mandatory for employees whose PF wages, as defined under the Code on Social Security, are up to the notified wage ceiling. Those having wages above the ce...
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