PSU GROWTH
•
2109 views
SCOPE hails landmark hike in EPFO wage ceiling to Rs. 25,000
Standing Conference of Public Enterprises (SCOPE) welcomes the Union Cabinet's decision to raise the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) from Rs. 15,000 to Rs. 25,000 per month.
The Cabinet approved the proposal from the Ministry of Labour & Employment. The revised ceiling is expected to bring more than 51 lakh additional employees under mandatory EPFO coverage, extending provident fund, pension, and insurance protection to a wider segment of India's formal workforce.
SCOPE described the decision as a progressive step that will drive workforce formalization, enhance worker productivity and improve worker retention. A stronger safety net means a more secure, invested workforce, the apex body said, calling the move a significant stride toward the vision of Viksit Bharat@2047.
SCOPE has been working incessantly towards the welfare of India's workforce, and continues to champion policy reforms that strengthen social security and dignity of labour across organisations.
The Cabinet approved the proposal from the Ministry of Labour & Employment. The revised ceiling is expected to bring more than 51 lakh additional employees under mandatory EPFO coverage, extending provident fund, pension, and insurance protection to a wider segment of India's formal workforce.
SCOPE described the decision as a progressive step that will drive workforce formalization, enhance worker productivity and improve worker retention. A stronger safety net means a more secure, invested workforce, the apex body said, calling the move a significant stride toward the vision of Viksit Bharat@2047.
SCOPE has been working incessantly towards the welfare of India's workforce, and continues to champion policy reforms that strengthen social security and dignity of labour across organisations.
.jpeg)
