The government is implementing Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) since 2016 with the objective to incentivize employers for the creation of new employment and also aimed to bring informal workers to the formal workforce.
Under the scheme, the Government of India is paying the Employer’s full contribution i.e. 12% towards Employees’ Provident Fund (EPF) and Employees’ Pension Scheme (EPS) both (as admissible from time to time) for a period of three years to the new employees through Employees’ Provident Fund Organisation (EPFO).
The terminal date for registration of beneficiary through establishment was 31st March 2019. The beneficiaries registered up to 31st March 2019 will continue to receive the benefits for 3 years from the date of registration under the scheme. As of 3rd March 2021, benefits have been provided to 1.21 crore beneficiaries through 1.52 lakh establishments.
Aatmanirbhar Bharat Rozgar Yojana (ABRY) Scheme is being implemented with effect from 1st October 2020 to incentivize the creation of new employment along with social security benefits and restoration of loss of employment during the COVID-19 pandemic.
Under ABRY, the Government of India is crediting for a period of two years, both the employees’ share (12% of wages) and employers’ share (12% of wages) of contribution payable or only the employees’ share, depending on employment strength of the EPFO registered establishments.
Further, the Government had launched Pradhan Mantri Garib Kalyan Yojana (PMGKY) under which the Government of India had contributed both 12% employer’s share and 12% employee’s share under Employees Provident Fund (EPF), totaling 24% of the wage for the wage month from March to August 2020 for the establishments having up to 100 employees with 90% of such employees earning less than Rs. 15000/-.
This information was given by Minister of State (I/C) for Labour & Employment Shri Santosh Kumar Gangwar in a written reply in Rajya Sabha today.