Suma R V Highlights the Urgency of Raising the Wage Ceiling In a Financial Express Article

As part of efforts to strengthen social security for workers across India, the proposed expansion of coverage under the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) is set to benefit over 10 million workers. Suma R V, commented on the significant impact of this move in a recent article for Financial Express.

“With rising CPI inflation and increasing costs associated with medical, insurance, and pension schemes, raising the wage ceiling is crucial. It will enable a broader section of the workforce to manage their income more effectively,” said Suma. “Furthermore, increasing the wage ceiling is essential, as the minimum wage in many instances has surpassed ₹15,000, rendering the current EPF cap of ₹15,000 obsolete.”

Read full article: https://www.financialexpress.com/money/epfoesic-cover-may-expand-by-10-million-3633270/