Modi government raises EPF salary ceiling from ₹15,000 to ₹25,000
The Union government has raised the Employee Provident Fund salary ceiling from ₹15,000 to ₹25,000 per month, announced on Vishwakarma Jayanti. The previous limit had been in place since September 2014. Union Minister Ashwini Vaishnaw stated that the new threshold brings approximately 51 lakh employees earning between ₹15,000 and ₹25,000 monthly within EPF coverage, entitling them to organized social security benefits.
The decision, approved by PM Narendra Modi on 16 September, carries an estimated annual cost of ₹11,339 crore to the government, with a five-year outlay of approximately ₹56,696 crore. The Expenditure Finance Committee recommended the proposal following inter-ministerial consultations.
Eligible employees will gain three primary benefits: regular savings under EPF, pension security through the Employee Pension Scheme (EPS), and insurance coverage via the Employees' Deposit-Linked Insurance Scheme (EDLI).
