Business1d ago
Union Cabinet approves raising EPFO wage ceiling to ₹25,000 per month
AI EXECUTIVE SUMMARY
The Union Cabinet has approved an increase in the Employees' Provident Fund Organisation wage ceiling to 25,000 rupees per month. This administrative adjustment is projected to extend mandatory social security and retirement benefits to over 5.1 million new workers across the country.
WHY IT MATTERS
This policy change significantly expands mandatory social security coverage for millions of middle- and lower-income workers in the formal sector.
In a press release, the Government said that this decision is expected to bring more than 51 lakh additional employees within the ambit of mandatory EPFO coverage
This story was originally reported by The Hindu — Business. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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