India Raises EPF Wage Ceiling to 25000 Rupees
The Indian cabinet approved raising the Employees Provident Fund wage ceiling to 25000 rupees from 15000 rupees. Information Minister Ashwini Vaishnaw announced the decision, expanding social security coverage.
India's cabinet approved raising the Employees Provident Fund wage ceiling to 25,000 rupees ($260) from 15,000 rupees on Wednesday afternoon, Information Minister Ashwini Vaishnaw said. The adjustment expands mandatory retirement savings coverage for workers across the country. The policy shift brings millions of additional employees into the formal social security network.
