Employees Salary limit Increased: Limit Increases from Rs 15k to 21k

There is good news for lakhs of employees working in the private sector of the country.

The government may increase the limit of salary of employees. Which  means, the employees whose salary is less than 15000 or 15000 Rs, then their salary limit will now be 21000 Rs.

For example, if the salary of an EPF employee is 15000 Rs, then his salary will be 21000 Rs per month.

But, after the decision of the Supreme Court, this cap will be removed  and the pension will be calculated at Rs 20000 instead of Rs 15000.

The proposed increase of the salary limit to Rs 21,000 per month has been endorsed by a committee, the report said.

The committee has said that the government may implement the increase from a later date after deliberation.

According to media report, once the proposal is implemented, an estimated 7.5 million additional workers will benefit from the scheme.

it has also been told that workers more than the limit of Rs 21,000 will be brought under the purview of retirement scheme and the benefit of  other social security scheme will also be given.

At present, the central government pays about Rs 6,750 crore annually under the Employees’ Pension Scheme.