AITUC calls for periodic revision of wage ceiling under EPFO
A day after the government announced a revision in wage ceiling under the Employees’ Provident Fund Organisation (EPFO) to Rs 25,000 per month from Rs 15,000, the All India Trade Union Congress (AITUC) AITUC demanding the wage ceiling to be fixed at Rs 30,000 per month to keep pace with increase in workers’ earnings.
On Wednesday, India's cabinet approved raising the wage ceiling for Employees' Provident Fund (EPFO) coverage from ₹15,000 to ₹25,000, announced Information Minister Ashwini Vaishnaw. This revision, which comes 12 years after the last change, is expected to bring over 51 lakh additional employees under mandatory EPFO coverage, expanding social security protection for workers.
The government estimates the annual outgoings at about ₹11,339 crore, with an expected expenditure of approximately ₹56,696 crore over five years. EPFO currently manages the Employees' Provident Fund, Employees' Pension Scheme, and Employees' Deposit Linked Insurance Scheme, with around 7.98 crore contributing members across 7.68 lakh establishments, and provides pension benefits to 82 lakh pensioners.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- EPFO wage ceiling raised to ₹25,000 from ₹15,000: Ashwini Vaishnaw livemint.com
- EPFO wage ceiling raised to Rs 25000 per month; over 10 million formal sector workers to benefit economictimes.indiatimes.com
