In the Union Budget released on 10th July 2014, it was announced that the PF minimum wage ceiling will be increased to Rs. 15,000/-. Could you please confirm from which month this increase will be effective?
Additionally, I would like to inquire about any changes in the ESI cutoff, specifically if it has been raised from Rs. 15,000 to Rs. 25,000.
Your guidance on these matters would be greatly appreciated.
Thanks & Regards,
From India
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Additionally, I would like to inquire about any changes in the ESI cutoff, specifically if it has been raised from Rs. 15,000 to Rs. 25,000.
Your guidance on these matters would be greatly appreciated.
Thanks & Regards,
From India
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As and when there are notifications of enhancement of the wage ceiling under the EPF & MP Act, 1952, and the ESI Act, 1952, the same will be advertised by the government as well as by the concerned departments. I hope, for the time being, you will continue to keep in touch with the appropriate nearest offices of the above departments, i.e., EPFO & ESIC. Under the ESI Act, 1952, even the notification of intention has not been issued so far.
Enhancement of Wage Ceiling and Budgetary Contribution
Enhancement of the wage ceiling in respect of the above Acts has no relation to the general budget of the country. There is no budgetary contribution of the central government in respect of the revenue generated from the above social security schemes (except for a very minor percentage in respect of EPF). Though these social security schemes are run with the contributions of employees and employers, the policy guidelines are determined by the Central Government.
From India, Noida
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944Enhancement of Wage Ceiling and Budgetary Contribution
Enhancement of the wage ceiling in respect of the above Acts has no relation to the general budget of the country. There is no budgetary contribution of the central government in respect of the revenue generated from the above social security schemes (except for a very minor percentage in respect of EPF). Though these social security schemes are run with the contributions of employees and employers, the policy guidelines are determined by the Central Government.
From India, Noida
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PIB - ESI wage ceiling increase from Rs. 15,000 to Rs. 21,000.pdf