EPFO Increase Wage – The Employees Provident Fund Organization (EPFO) wants to bring more and more people into its purview. For this, the EPFO has sent proposals to the Finance Ministry from Rs 15,000 to Rs 21,000.
EPFO Increase Wage – Finance Ministry
This time, the Finance Ministry has assured to show a positive attitude on this issue. However, the Labor Ministry says that the government wants to resolve the issue of granting more pension first. After this proposal to increase the scope of EPFO will be considered.
NB Nageshwar Rao, the member of the CBT and the Indian Labor Union, says that we want the government to bring more people to the realm of EPFO so that these people can take advantage of social plans. That is why we have told the government this time that it will increase the salary limit of Rs 15 thousand to 21 thousand rupees.
Current Basic and DA
At present, the employee whose basic and DA joins the salary of Rs 15000, can be the member of the EPFO. We want to increase the salary limit to 21 thousand rupees. This will enable lakhs of employees to be associated with EPFO and take advantage of the social schemes being run by it.
Financial Side of This Proposal
According to sources, the Ministry of Finance asked the Labor Ministry to assess the financial side of this proposal. Recently they have received input and it has been pushed forward. Under the existing rules, it is necessary for 20 or more people to provide EPF benefits to the workers. That is, the company which has 20 or more people should definitely get the benefit of EPFO.