NEW DELHI, September 16: The Union Cabinet has approved the enhancement of the wage ceiling for mandatory coverage under the Employees’ Provident Fund Organisation (EPFO) from ₹15,000 to ₹25,000 per month.

The decision is expected to bring more than 51 lakh additional employees under mandatory EPFO coverage, expanding the reach of formal social-security benefits to a larger section of workers.

Under the expanded coverage, eligible employees will have access to provident fund savings, pension protection under the Employees’ Pension Scheme (EPS), and insurance protection under the Employees’ Deposit Linked Insurance Scheme (EDLI), subject to the applicable scheme provisions.

The government said the decision will strengthen the process of formalisation of employment and advance India’s long-term social-security objectives. It is also aimed at strengthening retirement security and supporting the broader vision of Viksit Bharat@2047.

The enhancement will also enable the statutory contribution and pensionable-wage framework to better reflect prevailing wage levels, according to the government.

EPFO operates three major social-security schemes—EPF, EPS and EDLI—which provide retirement savings, pension benefits and insurance protection to eligible workers. 

The move comes as part of wider efforts to expand social-security coverage and bring more workers into the formal employment system.

Source: Press Information Bureau, Government of India

[Read the full PIB update](https://www.pib.gov.in/PressReleasePage.aspx?PRID=2310812&utm_source=chatgpt.com)

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