EPFO wage ceiling raised to Rs 25,000, over 51 lakh more employees to gain Social Security Cover

New Delhi, Sep 16 (UNI) The union Cabinet on Wednesday approved a substantial expansion of India's formal social security framework by raising the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) from Rs 15,000 to Rs 25,000 per month, a decision expected to bring more than 51 lakh additional employees within the statutory ambit of provident fund, pension and insurance benefits. Announcing the decision after the Cabinet meeting, union Minister for Information and Broadcasting Ashwini Vaishnaw said the enhancement would significantly widen social security coverage while advancing the Government's employment formalisation agenda. He described the move…