Centre to contribute 24 pc in PF account under Atmanirbhar Bharat Rojgar Yojana; check eligibility criteria here
New Delhi | Jagran Business Desk: Several people in India lost their jobs because of the ongoing COVID-19 crisis. To aid such people, the central government had started the self-reliant India Employment Scheme (Atmanirbhar Bharat Rojgar Yojana) in 2020 with the aim to increase employment in the country. It will be applicable for 2 years till 2022. You can also avail this scheme. Here's all you need to know.
What is self-reliant India Employment Scheme?
The self-reliant India Employment Scheme was launched on October 1 last year. Under this scheme, the government will contribute in the Employees' Provident Fund Organisation (EPFO). This was launched to encourage companies to create new jobs amid the employment loss.
What is the main objective?
The main objective of the scheme is to increase employment by reducing the financial burden on the companies. For that purpose, the government will pay a total contribution of 24 per cent by the employee and the employer to the Provident Fund Account for 2 years in case of new recruitment.
Who is eligible?
The institutes which are registered with the Employees' Provident Fund Organisation (EPFO) will only be eligible for this scheme. Under this scheme, the government will take responsibility of contributing to the Provident fund account of workers for a given time period.
This facility will be given in the case of those employees whose salary is up to 15 thousand rupees per month and companies in which the total number of employees is up to 1 thousand.
What is the budget?
An allocation of Rs 22,810 crore has been approved for 58.50 lakh estimated beneficiaries under the scheme. Earlier this week, Finance Minister Nirmala Sitharaman said Rs 902 crore has been spent on 21.42 lakh people till June 18.
Till when will the benefits be available?
The government has allocated Rs 22,810 crore under this scheme for the entire period from 2020 to 2023. The time period of the scheme has been extended from June 30 to March 31 (2022).
Posted By: Sugandha Jha