The Employees’ Provident Fund wage ceiling has increased to Rs 25,000. This change will enable employees to receive higher retirement benefits and monthly pensions. Pension calculations now consider a higher pensionable salary and increased service years. Employees must contribute for five years at the new ceiling for maximum benefit. Eligibility for the Employees’ Pension Scheme has also expanded for certain employees.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.