Rules Γ— Money

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New government rules that land on your wallet.

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EPFO wage ceiling of β‚Ή25,000 too little, too late, says AITUC

Union Cabinet hikes EPFO wage ceiling from β‚Ή15,000 to β‚Ή25,000; AITUC calls the move too little, too late and demands β‚Ή30,000 with an automatic revision mechanism.

Why it matters

51 lakh+ additional employees come under mandatory EPFO coverage; employee PF contribution rises β‚Ή1,200/month; government outgo up β‚Ή1,089 crore/year.