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ministry had earlier suggested increasing the subsidy payout from 0.63 per cent but this was shot down. The current wage limit for mandatory contribution to the EPFO is lower than the minimum wage level in most states.
* Oscar Fernandes, who has been given additional charge of the labour ministry, is understood to have agreed to call a meeting of Central Board of Trustees in of January to finalise the package
* The govt is also likely to hike the minimum wage ceiling to Rs 15,000 per month and also pay a fixed monthly pension of Rs 1,000 to subsrcibers to the Employees’ Pension Scheme