The Union Cabinet has approved raising the Employees' Provident Fund Organisation (EPFO) wage ceiling from ₹15,000 to ₹25,000 per month. The move is expected to bring more than 51 lakh additional employees under mandatory EPFO coverage, widening access to the Employees' Provident Fund (EPF), Employees' Pension Scheme (EPS) and Employees' Deposit Linked Insurance Scheme (EDLI). The ceiling was last revised in September 2014, from ₹6,500 to ₹15,000. The extra government spending is estimated at ₹11,339 crore a year, or about ₹56,696 crore over five years.