EPFO Wage Ceiling Raised to Rs 25,000 Monthly

Business Standard · business

EPFO has increased its statutory wage ceiling for mandatory coverage from Rs 15,000 to Rs 25,000 per month, effective September 17. This move brings an estimated 51 lakh more employees under the EPFO's social security umbrella, impacting their provident fund, pension, and insurance benefits. Employees earning between Rs 15,000 and Rs 25,000 in PF wages will now be mandatorily covered. Contributions are calculated based on PF wages, with employees contributing 12% and employers dividing their 12% contribution between EPF and EPS.