The month of December is about to end soon. New Year is about to knock. Meanwhile, the year 2025 can be full of happiness for people working in the private sector. They are expected to get big relief in the budget from the Central Government. Generally, private sector employees stay away from facilities like dearness allowance. But now they hope that the government can take a decision on increasing the basic salary in their EPFO in the coming budget. This may increase the pension of private sector employees.
Actually, the Employees Provident Fund Organization (EPFO) is preparing to increase the basic salary from the current Rs 15,000 to Rs 21,000. This will increase the amount of pension and EPF contribution of the employees. This will increase financial security after retirement. If this scheme is implemented then private employees will directly benefit from it.
What will be the impact on private employees?
Let us tell you that since 2014, pension is being calculated at the rate of Rs 15,000. Now there is a possibility of increasing it. If this change is implemented, there will be a huge increase in the pension of the employees. Which will strengthen their financial health. However, this step of the government may reduce the monthly salary. The reason for this is that more money will go to EPFO (Employees’ Provident Fund Organization). But it will be beneficial for their future. For example, if the pension limit is increased from ₹15,000 to ₹21,000, employees can get ₹2,550 more pension benefit every month.
Possibility of big announcement in Budget 2025
According to information received from sources, the Finance Ministry and Labor Ministry are preparing to finalize this proposal. No official announcement has been made yet regarding when this will be implemented. In such a situation, it is expected that Finance Minister Nirmala Sitaran can give good news to the employees in Budget 2025.
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