Nirmala Sitharaman announces Atmanirbhar Bharat Rozgar Yojana


The employment scheme effective from October 1 will be applicable to eligible new employees joining the EPFO-registered establishments and for those who exited these concerns during the COVID pandemic (March 1-September 30, 2020) and drawing monthly wages of less than Rs 15,000.

Union Finance Minister Nirmala Sitharaman and Minister of State Anurag Thakur | Photo: Kamal Kishore|PTI

New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday announced 'Atmanirbhar Bharat Rozgar Yojana' to incentivise creation of new employment opportunities during the Covid-recovery phase.

The employment scheme effective from October 1 will be applicable to eligible new employees joining the EPFO-registered establishments and for those who exited these concerns during the COVID pandemic (March 1-September 30, 2020) and drawing monthly wages of less than Rs 15,000.

Under the scheme, the central government will subsidise the Employees' Provident Fund (EPF) contributions for two years.

The Centre will provide 12 per cent of the contributions of both employers and the employee for establishments with up to 1,000 employees.

In the case of establishments with over 1,000 employees, the Centre will only subsidise 12 per cent of the employees' EPF contributions.

The establishments eligible for the scheme include those that added a specified number of employees compared with the base month of September 2020.

IANS

Add Comment
Related Topics

Get daily updates from Mathrubhumi.com

Youtube
Telegram
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.