How will employees benefit as govt hikes EPF wage ceiling to ₹25,000?

The Union Cabinet has approved raising the wage ceiling for mandatory EPFO coverage from ₹15,000 to ₹25,000 per month, bringing over 51 lakh additional workers under its ambit. Employees earning between ₹15,000 and ₹25,000 will now get mandatory access to provident fund savings, EPS pension benefits and EDLI insurance coverage. The move will also increase social security coverage for employees.