look news india
Budget Expectations 2024: The budget session of the central government will begin on July 22 and a day after that, i.e. on July 23, Finance Minister Nirmala Sitharaman will present the country's general budget. People have high expectations from this budget. Middle class people feel that this year the government can take a decision which will give them some relief. In which employees can get good news. The salary of employees with a minimum salary of 15 thousand can be increased to 25 thousand rupees.
The minimum wage has not increased in the country for 10 years
At present, the minimum wage for the Central Government Employment Provident Fund is Rs. 15,000. The Ministry of Labor and Employment has presented a proposal. In which this year's budget can be increased to Rs 25,000. To fulfill the demand that has been going on for years, the Finance Minister can announce it in the budget on July 23.
The minimum wage in the country has not been increased for the last 10 years. While inflation is increasing. Finally, on 1 September 2014, the minimum wage was increased from Rs. 6,500 to Rs. 15,000.
ESIC had increased the minimum wage in 2017 itself
At present, the minimum wage in the Central Employment Provident Fund is Rs. 15 thousand. However, the minimum wage in the Employees State Insurance Corporation is Rs. 21 thousand. ESIC had increased the minimum wage in the year 2017 itself. Both the employee and the employer contribute 12-12 percent of the basic salary and dearness allowance to the EPF account. In this, the entire contribution of the employees is deposited in the EPFO account and the employer's 8.33 percent contribution goes to the Employees' Pension Scheme and 3.67 percent to the PF account.