Higher EPF wage limit: Monthly PF contributions rise to Rs 3,917

The Employees' Provident Fund Organisation (EPFO) has increased the wage ceiling for mandatory Provident Fund (PF) contributions from Rs 15,000 to Rs 25,000 per month. This change will result in employees contributing Rs 3,000 (12% of the increased wage) towards their PF savings, up from Rs 1,800, as well as employers contributing Rs 917 (3.67%) towards the PF, up from Rs 550.

Additionally, Rs 2,083 (8.3% of the wage) will now be contributed by employers to the pension kitty, up from Rs 1,250. The new regulations came into effect on September 17, aiming to bring over one crore additional workers into the social security net as minimum wages in several states have surpassed the Rs 15,000 threshold.

Brief written by urgent.news from Times of India's own syndicated text. Machine-written — may contain errors; check the original before relying on it.