The government has made a big announcement for those who became unemployed during the Corona period. The government will give big relief in PF to those who get jobs again.
New Delhi: The corona epidemic affected public life not only in India, but across the world. The Indian economy was badly affected in the Corona period. During this time many people had to lose their jobs. During this period, the rate of unemployment increased very rapidly. Now with the introduction of the Corona vaccine in the country, all the countrymen have got a big relief. Meanwhile, the government has made a big announcement to reduce the unemployment rate in the country.
The government will fill the EPF
government has given a big offer to private companies to reduce unemployment in the country. According to a report by Zee Business, the employees of the company who were fired due to lack of allowances. If companies put those employees back on the job before June 2021, then the government will deposit the money in the employee’s PF account for two years. Private companies have a big chance that they can keep their old employees back with the help of the government.
According to the CMIE (Center for Monitoring Indian Economy), the government gave relief during the Corona period, between April and August in the country, more than two crore people became unemployed. In the last year, the government worked to provide relief to the employees by reducing the PF contribution of all companies and employees under the Employees Provident Fund Organization (EPFO) by two percent each. During the Corona period, both companies and employees had to give 10–10 percent PF contribution. In this way, the amount of cash with the employees increased and the companies also got some relief during the Corona period.
Also Read: Good news for EPFO account holders, they will be able to update details after leaving the job
The government gave a
big relief to the employees who got less than 15 thousand salary during the PF corona period of the filled employees . Under the Pradhan Mantri Garib Kalyan Yojana, the government paid 24 percent of the total PF of the registered employees.
What is the percentage of EPF deduction
According to EPFO, both employees and employer company deposit 24 percent contribution in a PF account. Of this, 12 percent of the allowance is deposited from the salary of the employee, while 12 percent of the flowing company deposits the employee’s PF account.
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