Atmanirbhar Bharat Rojgar Yojana: The government has taken an important decision to promote employment. In this, both the employer and the employer will benefit. In fact, on June 28, Finance Minister Nirmala Sitharaman announced to extend the deadline of ‘Self-reliant India Employment Scheme’ till 31 March 2022. This scheme was done in November last year, whose period was ending on 30 June 2021. In view of the situation of the epidemic, the government has decided to take this scheme forward once again. The purpose of this scheme is to help by contributing to the Provident Fund Account (PF Account) of the employer and the employees. Under the scheme, till June 18, 2021, about 21.42 lakh beneficiaries have been given a benefit of Rs 902 crore. Let’s know the details of the scheme …
Self-reliant India Employment Scheme: Who will benefit
Employers and employees will benefit from the self-reliant India employment scheme. Under the scheme, subsidy will be given to the employers making new appointments. The subsidy will be to cover the retirement fund contribution i.e. EPF made by the employees and employers for two years. A subsidy equal to 12 percent of the employees and 12 percent of the contribution in the EPF i.e. the total contribution of 24 percent will be given by the government to the employers for two years.
What type of employees will be covered
Under the scheme, every new employee appointed to a registered company in EPFO will be covered whose monthly salary is less than Rs 15,000. Apart from this, it is also mandatory for the employee to have a UAN number. Apart from this, if the salary of an employee is less than Rs 15000 and he is a member of EPFO, then he will get the benefit of this scheme only if he has lost his job between 1 May 2020 to 30 September 2020. During this period the employee should not be associated with any company which is registered with EPFO.
What type of employer benefits
Under this scheme, the government has included companies providing new employment to up to 1,000 people. In this, the government will pay the PF contribution on behalf of both the employer and the employer during the stipulated period. At the same time, companies giving new employment to more than 1,000 people will pay only 12 percent of each employee’s contribution for two years.
These are the conditions for the employer
Under the Self-Reliant India Employment Scheme, every company registered with EPFO will get this subsidy. To take advantage of this scheme, a company with a maximum of 50 employees will have to recruit at least two new employees, while companies with more than 50 employees will have to recruit at least five new ones.
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