EPF salary ceiling raised from ₹15,000 to ₹25,000:Over 2.25 lakh new employees to join in Ahmedabad

The monthly salary ceiling for mandatory enrolment under the Employees’ Provident Fund (EPF) has been raised from ₹15,000 to ₹25,000. The revision is expected to bring around 2.25 lakh additional employees in Ahmedabad under the provident fund scheme. According to Saurabh Tripathi, Regional Provident Fund Commissioner-I and head of the Ahmedabad EPFO office, around 20 lakh people in Ahmedabad are currently covered by the provident fund. With the revised salary ceiling, another 2.25 lakh employees could become eligible for social security coverage. Employees earning up to ₹25,000 to get wider social security coverage The revised ceiling will allow more employees to benefit from social security provisions, including retirement savings, pension and insurance. Employees earning between ₹15,000 and ₹25,000 who meet the eligibility criteria will be covered under the provident fund, pension scheme and Employees’ Deposit-Linked Insurance Scheme (EDLI). EPFO asks employers to update employee records The EPFO has directed employers in Gujarat to review employee salaries and records and ensure that contributions for eligible employees are properly reported. Employers who fail to comply with applicable provisions may face action, including interest and penalties. Over 51 lakh additional employees expected to come under EPFO The revision is estimated to bring around 51 lakh additional employees across the country under EPFO’s social security coverage. The salary ceiling was earlier increased from ₹6,500 to ₹15,000 in September 2014. Gujarat employees withdrew ₹60,000 crore from PF in 10 years Employees in Gujarat withdrew around ₹60,000 crore from their provident fund over the past decade for various purposes. According to data provided by the EPFO in response to an RTI filed by Divya Bhaskar, ₹6,038 crore was withdrawn through 39.20 lakh claims for medical treatment between 2013-14 and 2023-24. Another ₹5,914 crore was withdrawn through 8.53 lakh claims for purchasing or constructing houses. ₹917 crore withdrawn for marriage, education expenses Over the same period, employees withdrew ₹917 crore from their PF accounts for family marriages and children’s education. Overall PF withdrawals increased by around 300% during the period, rising from ₹2,395 crore in 2014 to ₹9,367 crore in 2023.