The change will extend EPF, pension and insurance benefits to more than 5 million workers, with contribution rules yet to be detailed.
Government raises EPF wage ceiling to ₹25,000 from ₹15,000, expanding mandatory social-security coverage to over 51 lakh additional employees
The proposal is expected to bring more than 5.1 million additional employees under mandatory EPFO coverage
The Union Cabinet on Wednesday approved a proposal to raise the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) to Rs 25,000 per month from Rs 15,000. The wage ceiling revision is taking place after 12 years. The decision is expected to bring more than 51 lakh additional employees within the ambit of mandatory EPFO coverage, significantly widening social security protection for workers, Information and Broadcasting Minister Ashwini Vaishnaw said at a press briefing. The EPFO wage ceiling remained unchanged from 2004 to 2014 and was enhanced to Rs 15,000 in September 2014. The present decision carries forward this approach by further raising the ceiling to Rs 25,000 to reflect sustained wage growth, rising incomes and continued expansion of formal employment over the intervening years, an official release said. The annual government outgo is estimated at about Rs 11,339 crore against the existing annual budgetary support of about Rs 10,25
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The Supreme Court has said the access by private entities to sensitive data of EPFO and ITR records was "worrisome", and asked the Centre to consider devising safeguards to ensure that such information is not misused. A bench comprising Chief Justice Surya Kant and justices Joymalya Bagchi and V Mohana, on Monday, expressed concern over the emergence of a commercial technology ecosystem allegedly accessing, retrieving and verifying sensitive personal information contained in provident fund and income tax records. The CJI, while refusing to entertain a PIL filed by Piyush Sharma on the issue, suggested that the Centre devise an effective mechanism to address the issue with the assistance of domain experts. The PIL raised concerns over private entities accessing and commercially exploiting individual data furnished to government authorities under statutory mandates. The bench said the issue essentially falls within the policy domain, but termed as "worrisome" the private access to ..
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