In a good news for the Employees’ Provident Fund Organisation (EPFO) members, the organisation is planning to hike the wage limit for mandatory contribution towards the provident fund and its pension scheme, said a report. Presently, the wage limit for inclusion under EPFO is Rs 15,000 per month.

The EPF limit was last revised more than a decade ago, in 2014, at a time when it was increased from Rs 6,500 to Rs 15,000 per month. In this context, the ceiling is of significance as it is the deciding factor for enrolling in the Employees Provident Fund (EPF) and Employee’s Pension Scheme (EPS). The increase is meant to boost retirement security and expand social protection for millions of workers.

Why is EPFO considering a hike again?

Department of Financial Services (DFS) Secretary M Nagar

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