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EPFO revises wage ceiling to widen social security coverage
ଖବରରେ କାହିଁକି?
EPFO raised the wage ceiling — the EPF Act 1952 provision every Social Justice answer needs
EPFO's wage ceiling revision aims to widen social security coverage and raise minimum pensions for low-wage retirees.
Why it matters: GS-2 core; factual, Prelims-type
What you need to know
2 ମିନିଟ
The Centre revised the wage ceiling used by the Employees' Provident Fund Organisation (EPFO), a move expected to raise the minimum pension for low-wage retirees and widen social security coverage for organised-sector workers.
EPFO administers retirement savings and pension schemes under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
The revision has drawn mixed reactions from trade unions and employer bodies over compliance costs and implementation.
ଉତ୍ସ: Topper IAS editorial (PIB / The Hindu / Indian Express)
ମୁଖ୍ୟ ତଥ୍ୟ
Remember these
- EPFO revised the wage ceiling used to determine PF and pension contributions
- The revision aims to raise the minimum pension for low-wage retirees
- EPFO administers retirement savings and pension schemes for organised-sector workers
- EPFO functions under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952
- Trade unions and employer bodies have given mixed reactions over compliance costs
ପ୍ରିଲିମ୍ସ · ମେନ୍ସ
How the exam will ask it
ପ୍ରିଲିମ୍ସ
- EPFO functions under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952
- The revised wage ceiling is expected to raise minimum pensions for low-wage retirees
- EPFO administers retirement savings and pension schemes for organised-sector workers
- The wage ceiling revision widens social security coverage for organised-sector employees
ମେନ୍ସ
GS Paper 2 - Social Justice / social security schemes: low minimum pensions for low-wage organised-sector retirees prompted the Centre to revise EPFO's wage ceiling, widening the contribution base and coverage. This raises implementation concerns among trade unions and employer bodies over compliance costs, pointing to a need for phased rollout with compliance support to balance worker welfare and business feasibility.
Quick recall
Answer before you reveal
The Employees' Provident Fund Organisation (EPFO) administers retirement savings and pension schemes for organised-sector workers under which legislation?
- Employees' Provident Funds and Miscellaneous Provisions Act, 1952
- Payment of Gratuity Act, 1972
- Employees' State Insurance Act, 1948
- Industrial Disputes Act, 1947
ଉତ୍ତର ଦେଖନ୍ତୁ
ଉତ୍ତର: A — EPFO functions under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, which governs provident fund, pension and insurance schemes for organised-sector employees.
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