Diabytes
Wage ceiling News
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EPFO is likely to approve a proposal to hike wage ceiling for coverage under its social security schemes to Rs 25,000 per month from the existing Rs 15,000.
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Government is considering a proposal to hike wage ceiling for coverage under social security schemes run by the retirement fund body EPFO to Rs 25,000 per month from the existing Rs 15,000, Parliament was informed on Monday.
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The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
Retirement fund body EPFO has asked its field offices to be prepared for implementation of the new government's decision to raise wage ceiling for social security schemes to Rs 15,000, which is expected to bring 50 lakh more workers under the coverage.
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