business 💰 EPFO wage cap jumps to ₹25k, check your benefits
The government increased the wage ceiling for mandatory EPFO coverage from ₹15,000 to ₹25,000 effective September 17. This move is expected to bring over 5.1 million additional employees into the system. Workers earning between ₹15,000 and ₹25,000 now gain automatic PF, pension, and insurance benefits. Those earning above ₹25,000 might see their monthly PF deduction increase up to ₹1,200. The change reflects that the old ceiling no longer matches current average salaries. 📈