- April 21, 2022
- Posted by: admin
- Category: News & Atricles
Atmanirbhar Bharat Rojgar Yojana
It was launched in November 2020 to promote employment in the formal sector and encourage the creation of new job opportunities during the Covid19 recovery period as part of the Atmanirbhar Bharat 3.0 package.
As part of the program:
- An employee with a monthly salary of less than Rs 15000/person who is not employed in any establishment registered with the Employee Protection Fund (EPFO) before 1 October 2020 and who does not have an account number General or EPF member accounts before October 1, 2020, are eligible to benefit.
- Any EPF member with a Joint Account Number (UAN) with a monthly salary of less than Rs 15,000/person who has been out of work during the Covid pandemic from 01-03-2020 to 30-09-2020 and is not engaged in any public Work in any EPF-covered facility through September 30, 2020, is also eligible.
This program, made possible through the Employee Protection Fund Organization (EPFO), helps to reduce the financial burden on employers in various sectors/industries, including MSMEs, and will encourage them to hire more workers. Under ABRY, the Indian government bears both the worker’s share (12% of the salary) and the employer’s share (12% of the salary) of the contribution payable or only the worker’s share, depending on the workforce of establishments registered with EPFO.
The program began October 1, 2020, and will remain open to eligible employers and new employees to apply until 30th June 2021.
The government-approved expenditure for the total duration of the program, i.e., from 2020 to 2023, is Rs 22810, cited the Labor and Employment, Shri Santosh Kumar Gangwar. Moreover, the government will pay the subsidy for two years from the date of registration.
About the ABRY
The Aatmanirbhar Bharat Rozgar Yojana (ABRY) proved to be a fruitful venture and benefited around 16.5 lakh people directly from the scheme. It was launched in October to encourage employment in the country amid the coronavirus (COVID19) pandemic, the Health Minister said on Wednesday, Union Santosh Gangwar.
“As of 9 March 2021, 16,490,000 employees have applied for benefits (under ABRY),” said Santosh Gangwar, the labor minister, in a written response to Rajya Sabha.
The program was introduced to encourage new job creation and social security benefits and restore job losses during the pandemic.
This program implemented through the Employee Protection Fund Organization (EPFO) helps to reduce the financial burden on employers in different sectors/industries and encourages them to hire more workers.
Under ABRY, the government of India credits for two years both the employee’s share (12% of the salary) and the employer’s share (12% of the salary) for contributions paid.
In another response to creating jobs, the Minister said in the house: “Under the proportion of beneficiaries, about 16.5 Lakhs registrations came until October 1, 2020. In addition, about 13.64 Lakh more registrations with UAN (Number of account spectrum) was created on October 1, 2020.
Moreover, about 2.86 Lakh people were involved in the pandemic from March 1, 2020 to September 30, 2020, and participated from October 1, 2020.
The Government has contributed 12% of employers and 12% of employees of the Providence Fund of the staff (EPF), with a total salary of March 2020. For facilities for a maximum of 100 employees, 90% of these employees earn less than Rs. 15,000.
According to PMGKY, 2,567.66 core has been recorded into EPF account is 38.82 Lakh’s qualified employee, the Minister told the house.
In a different reaction to the home of women’s job creation, the Minister told the house. In April 2020, there were more than 9.27 collections of women about Lakh as part of the Providence Fund of the employee (EPF), 1.13 Lakh under the new pension plan (NPS) about 2.03 Lakh women’s subscribers as part of Public insurance plan staff.
“In another feedback, the Minister said,” Receivables (prevailing funds) is 151, equivalent to 0.053% of the total number of 2.91 CRORE’s requirements resolved during this period (2020 to 2021). “Feedback, this application (PF) application is a dynamic process with receiving and resolving continuous requirements. Request time, completed in all aspects, is 20 days.
It provides a grant for the Retirement Fund’s contribution to add new employees to the establishments registered with the employee’s Providence Fund (EPFO) organization. Organizations with 1,000 employees will receive a contribution from employees (12% of the salary) and the contribution of the employer (12% of the salary), a total of 24% of wages for two years.
Employers with more than 1,000 employees will receive a 12% employee contribution for two years. The amount of the plan according to the plan will only be recorded in the Aadhar seeded (UR) OPFO account of the new employee.
Any new employee involved in employment in organizations registered EPFO to monthly salary below 15,000 rupees. Those laid off between March 1 and September 30, 2020, were employed on or after October 1, 2020.