Govt may raise EPFO wage ceiling and lower employee threshold for enhanced social security for workers
wage ceiling and lower the headcount threshold under the Employees' Provident Fund Organisation (EPFO) as it aims to enhance and widen coverage for bolstering social security for workers.
The current wage ceiling under the EPFO is ₹15,000 per month, which could be raised to up to ₹21,000 in line with the wage ceiling under the Employees' State Insurance Corporation. Further, the mandatory threshold in an organisation for joining the EPFO may be lowered to 10-15 employees from 20 currently. The ministry of labour and employment is currently discussing the matter with stakeholders, said people aware of the deliberations. They added that the government is keen to push the welfare measures as it prepares the ground for rollout of the Social Security Code.
The talks follow strong recommendations by a steering committee set up to explore widening and deepening social security measures for workers.
Last Wage Ceiling Revision in 2014
«The minister is evaluating all pending proposals, and the government feels the wage ceiling and the threshold revision under EPFO is long overdue,» a senior government official said.
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