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PROVIDENT FUND COVERAGE AT RS.15,000 AND MINIMUM MONTHLY PENSION RS.1,000 TO START SOON

Date: 2014-02-07

 The Central Board of Trustees (CBT), the apex decision making body of Employees\' Provident Fund Organisation on 5th February, 2014 has decided to amend Employees\' Provident Fund Scheme to raise the monthly wage ceiling to Rs.15,000 from Rs.6,500 for coverage of an employee.

According to EPFO, the Finance Ministry has already approved the Labour Ministry\'s proposals for entitlement of minimum monthly pension of Rs.1,000 and enhancing wage ceiling for coverage to Rs.15,000 per month.