Budget 2024: Basic salary may increase, may be announced in the budget
The country's general budget will be presented by Finance Minister Nirmala Sitharaman on July 23. Preparations are going on in full swing for this, the Finance Minister herself is holding meetings regarding this and trying to know the opinion of the people. Meanwhile, everyone has high hopes from this time's budget that there will be some big announcement for them too. In such a situation, the central government can increase the minimum basic salary limit for contributions to the Employees' Provident Fund.
Basic may increase
According to the information, there may be an increase in the minimum basic salary limit i.e. basic salary for contribution to the Employees' Provident Fund. It can be increased from Rs 15,000 to Rs 25,000. According to the information, the Ministry of Labor and Employment has prepared a proposal for this. It is believed that it can be announced in the budget to be presented on July 23.
Rules may be amended.
If media reports are to be believed, the government is preparing to amend the rules after 10 years. It is being told that the ministry is preparing to amend the rules after 10 years to increase the social security scope of employees. Earlier on 01 September 2014, the salary limit was increased from Rs 6,500 to Rs 15,000. However, in contrast, the salary limit in the Employees State Insurance Corporation is higher than this. In such a situation, this announcement is possible in the budget for the employees this time.
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