EPFO New EPFO basic salary limit will be doubled, see new update
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According to the new update issued by the Employees' Provident Fund Organization, the main provident fund organization of the Center, the salary is going to increase, check soon
There is a possibility of raising your salary range from existing Rs.15,000 to Rs.21,000 per month.
As per the rules, it is mandatory for an employee earning less than Rs 15,000 to register himself with EPFO
Employees have to contribute 12 percent of the basic salary to EPFO.
Selection - The government contributes about 1.16 per cent annually to the pension scheme. Of the 12% contribution made by the employer, 8.33% goes to the pension account of the beneficiary.
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There is a possibility of double increase in salary.
Currently, around 68 million employees are registered under EPFO. The ceiling limit of EPFO has been changed from Rs 6,500 to Rs 15,000 in 2014.