π EPFO wage ceiling jumps to βΉ25,000
The Union Cabinet approved raising the EPFO wage ceiling from βΉ15,000 to βΉ25,000 per month. This decision involves the Ministry of Labour & Employment and impacts workers across India. It is expected to bring over 51 lakh additional employees under mandatory EPFO coverage starting now. This update accounts for wage growth and the expansion of formal employment over the years. The higher ceiling aims to improve worker retention and strengthen retirement security for more people. πΌ