New Delhi: The Supreme Court on Monday directed the government to consider taking a decision within four months on the issue of revision of the existing basic salary ceiling of Rs 15,000 for enrolment under the Employees’ Provident Fund scheme.
The EPFO currently excludes from coverage those whose salaries exceed Rs 15,000 per month.
All employees with basic pay up to Rs 15,000 are required to contribute to the Employees’ Provident Fund. However, beyond this limit, EPF contributions are optional for those who joined after September 1, 2014. Over the past several decades, EPS wage limit has been revised several times.
Period Wage And Limit Per Month (CHANGE OF WAGE LIMIT {PARA 2(f) OF EPF SCHEME 1952})
01.11.1952 to 31.05.1957: Rs 300
01.06.1957 to 30.12.1962: Rs 500
31.12.1962 to 10.12.1976: Rs 1,000
11.12.1976 to 31.08.1985: Rs 1,600
01.09.1985 to 31.10.1990: Rs 2,500
01.11.1990 to 30.09.1994: Rs 3,500
01.10.1994 to 31.05.2001: Rs 5,000
01.06.2001 to 31.08.2014: Rs 6,500
01.09.2014 onwards: Rs 15,000
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