Partner - Risk Management

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Finance Ministry may raise wage cap for provident fund to Rs 15,000 per month.

The finance ministry is considering a proposal that can sharply reduce the government's borrowing costs, bring longterm savings into the cashstrapped infrastructure sectors, deepen the corporate bond market and, possibly, even make Indian stocks less vulnerable to the whims of foreign institutional investors.

The proposal, moved by the labour ministry, seeks a conditional pact with the finance ministry, under which the finance ministry will raise the statutory wage ceiling for provident fund contributions to Rs 15,000 per month from Rs 6,500. The labour ministry will in turn commit to route a bulk of the incremental annual inflows of Rs 90,000 crore into government bonds and infra projects, where it does not invest.

Read further at Finance Ministry may raise wage cap for provident fund to Rs 15,000 per month - The Economic Times

Attached Files
File Type: pdf Raise in wage cap for PF.pdf (106.2 KB, 273 views)

PF is not in line with wage cap This is only a proposal, not approved
Dear Saswatabanerjee, The article also says that it is just a proposal by the Finance Minister and not a approved Notification. Nowhere in the article it is written it is approved or bill has passed.
Yep, But your topic heading is misleading .... That is what I was saying
bad news for Employers as their contribution will raise. Pon
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™