Govt initiates Atmanirbhar Bharat Rojgar Yojna to boost employment
In order to boost employment the Union Cabinet under the leadership of Prime Minister Narendra Modi approved Atmanirbhar Bharat Rojgar Yojana which will incentivize new employment opportunities creation especially in the COVID recovery phase with an expenditure of Rs 1,584 crore under Atmanirbhar Bharat Package 3.0.
The government will offer subsidy under the scheme for two years for the new employees joined on or after October 1 till June 30, 2021 and it will depoist both 12% contribution of the employees as well as 12% contribution of the employers towards EPF.
The total 24% of the wages for employees’ EPF will be contributed by the government for two years for any establishments which may have employed upto 1000 employees. For the new employees the government will pay only 12% contribution of the employees towards EPF. For this scheme an employee who’s monthly wages are less than Rs. 15000 will be eligible.
The employees who have already left the job during COVID pandemic between 1st March to 30th September and could not join any establishment having EPF cover. Even those employees who were not working with any Employees’ Provident Fund Organization (EPFO) covered establishment are also eligible to get benefit from this scheme.
