New Delhi, Sept 16: The monthly wage ceiling for deductions of Provident Fund (PF) has been raised from Rs 15,000 to Rs 15,000.
The decision taken by the Union Cabinet will apply to employees working in industries across the country, Union Information and Broadcasting Minister Ashwini Vaishnaw.
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Accordingly, Rs 25,000 per month will be the new ceiling for PF deductions.
Approximately 51 lakh employees, specifically those falling within the Rs 15,000 to Rs 25,000 salary bracket, will benefit from this change and will now be covered under the revised PF regulations, he said.
The estimated annual expenditure for the Government of India on this measure will be Rs 11,339 crore, the minister said. (BVI)
