FM announces AtmaNirbharBharat Rozgar Yojana
- Every EPFO-registered organisation will get benefits on recruitment of new employees. This scheme will be effective for two years from October 1, 2020
- If EPFO-registered organisations hire new employees, govt will pay PF for two years. New employees to include those who don’t have EPFO or those who lost jobs. It will cover people earning less than Rs 15,000
Eligibility: HIring of minimum 2 employees for units with less than 50 employees and minimim 5 new employees before June 2021. Reference base of employees: Sept 2020
Benefit: Subsidy for new employees hired for organisation of 1000 employees 12% employer's share+12% employees share of PF contribution to be borne by the govt For organisations with more than 1000 employees, employees contribution will be contributed by the govt.