December is nearing an end and just after a week, the New year, 2025 would be celebrated by humans all over the globe. But, there wouldn’t be an uneventful new year because that’s just going to bring a lot of gifts to employees defined in private employment.
Let’s talk about the ever-despondent private sector employees, he is deprived of dearness allowance for six months and also deprived of any other benefits. But it is heard that now, these employees are on the way to become lucky as the government will soon approve a hike in the basic salary of EPFO, which is expected to bring even a bigger increase in the pension of employees working in the private sector.
Decision can be taken in Budget 2025
The fact is that for quite some time now, this demand has been nagging for the increase in basic salaries for private employees with unambiguous content saying “pensioners currently reflecting Rs 15,000, are to be enhanced at the onset of the new year.” Sources even claim that its entire draft has been prepared. Just waiting for the formal announcement to follow.
You must know that the pension amount was pegged at Rs 15,000 since 2014 and there is talk about increasing its ceiling. This is expected to take place very soon. In such a scenario, an increased amount is anticipated in the salary of employees every month.
The salary received every month will be reduced
That means a higher portion of the money received from the salary every month shall go towards EPFO. Therefore, the amount that is earned every month would decrease. For sprightliness, this will be very good in the future, for example, if the salary limit is increased from Rs. 15,000 to Rs. 21,000, then you will be entitled to benefit of an additional pension of Rs. 2550 every month.
