The government's decision to raise the provident fund wage ceiling to Rs 25,000 from Rs 15,000 is expected to bring more than 51 lakh additional employees under mandatory social security coverage, while pushing the Centre's estimated annual expenditure under the framework to Rs 11,339 crore.
The annual expenditure compares with existing budgetary support of around Rs 10,250 crore, implying an increase of about Rs 1,089 crore based on the figures provided by the government. Over five years, expenditure is estimated at around Rs 56,696 crore.
