The government may hike the threshold salary limit for provident fund contributions in a move that will bring cheer to millions of employees in the private sector. According to current norms, contribution towards provident fund is mandatory for those employees, whose salary is up to Rs. 6,500.
A hike in salary limit will not only help more people contribute toward their retirement benefits, but will also enable the Employee Provident Fund Organization (EPFO) to draw more long-term savings into its kitty. EPFO is a statutory body that manages provident fund contributions.
via Govt considers PF cap hike in boost to salaried employees.
