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EPF wage ceiling raised to Rs 25,000 from Rs 15,000: Know what it means for your salary and pension

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a proposal to raise the wage ceiling for mandatory coverage under the Employees' Provident Fund (EPF) from Rs 15,000 to Rs 25,000 per month. Sharing theinformation, Union Minister Ashwini Vaishnaw said the decision could bring more than 5.1 million additional employees under mandatory EPFO coverage.This decision will increase monthly contributions to employees' provident fund and pension accounts, significantly strengthening their retirement funds. The government will bear an additional expenditure of Rs 11,339 crore to implement this scheme.