EPFO Update: Central government employees are also the fortunate few who will be greeted with a big surprise on the New Year. The outline has already been prepared. According to information, there is news of a huge increase in the pension of crores of private employees of the country.
EPFO Update: The month of December is going to end many people are going to be celebrating the new year in about 11 days. Well, this is also going to end a year spell for some private employees. All the employees in the private sector would, of course, live in despondency as they are not entitled to any dearness allowance or other facility after every six months. But now, the piece of good news is that the silver lining has finally come to the plight of private sector employees. The approval for increasing the basic wages under EPFO is going to see the light soon, thereby forecasting great improvements for pensions under the private sector employees, which will be big increases.
Decision Can Be Taken In Budget 2025
In fact, demands for a hike in the basic salary of the private employees have been surfacing for quite some time now. In this demand, it has been clearly mentioned that the employees’ pension is presently calculated at 15000. Which will further be increased by the government to Rs 21000 at the coming new year. Sources even say that its entire draft is ready, just waiting for an official announcement. Let us remind you that since 2014, the pension is being calculated according to Rs. 15,000 and there are talks of its limit being increased. It is expected to be implemented very soon. That is because of this, and a huge increase in monthly salary will be there for employees.
The Salary Received Every Month Will Be Reduced
In other words, a larger amount from the salary received every month will go into EPFO. Thereby, the salary received each month will be lessened. But this is for your future good. Should the limit of salary be increased from 15,000 to 21,000 by the government, then you could get the benefit of an extra Rs 2550 pension every month.
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