Subsidize Employees Provident Fund under Atmanirbhar Bharat Rozgar Yojana

Subsidize Employees Provident Fund under Atmanirbhar Bharat Rozgar Yojana

 GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT

LOK SABHA 

UNSTARRED QUESTION NO. 1129
TO BE ANSWERED ON 26TH JULY, 2021 

EMPLOYEES‘ PROVIDENT FUND

EMPLOYEES‘ PROVIDENT FUND
1129. SHRI VELUSAMY P.

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:

(a) whether the Government is having any proposal to subsidize Employees Provident Fund under Atmanirbhar Bharat Rozgar Yojana for the new employees as well as for those who lost their job during lockdown;

(b) if so, the details thereof;

(c) the ceiling limit of wages criteria and the quantum of contribution to be given to both categories of workers (new and workers who lost their job);

(d) whether the Government will bear the contribution of both employers and employees‘ contribution for those employing more than 1000 workers;

(e) whether this scheme will be expanded to less than 1000 workers employed by the establishments; and

(f) if so, the details thereof and if not, the reasons therefor?

ANSWER
MINISTER OF STATE FOR LABOUR AND EMPLOYMENT 

(SHRI RAMESWAR TELI)

(a) to (c): Aatmanirbhar Bharat Rojgar Yojana (ABRY) has been launched as part of Atmanirbhar Bharat package 3.0 to incentivize employers for creation of new employment along with social security benefits and restoration of loss of employment during COVID-19 pandemic. This scheme being implemented through Employees’ Provident Fund Organisation (EPFO), seeks to reduce the financial burden of the employers and encourages them to hire more workers. Under the scheme:

  • An employee drawing monthly wage of less than Rs. 15000/- who was not working in any establishment registered with the Employees’    Provident    Fund    Organization    (EPFO)    before 1st October, 2020 is eligible for the benefit. The employees who lost their job during Covid-19 pandemic and didn’t join in any EPF covered establishment upto 30.09.2020 are also eligible for the benefit.

  • Government of India is crediting for a period of two years, both the employee’s share (12% of wages) and employer’s share (12% of wages) of contribution payable or only the employee’s share, depending on employment strength of the EPFO registered establishments.

  • The scheme has commenced from 1st October 2020 and shall remain open for registration of eligible employers and new employees upto 31st March, 2022. Government is paying the subsidy for two years from the date of registration.

(d) In respect of establishments employing more than 1000 employees, only employees’ EPF contributions i.e. 12% of wages is provided as benefit by the Central Government.

(e) & (f) The scheme already covers establishments employing less than 1000 workers. Incentive of both employees' & employer’s contribution i.e., 24% of wages in respect of eligible new employees in establishments employing up to 1000 employees is being provided under the scheme.

नोट :- हमारे वेबसाइट www.indiangovtscheme.com पर ऐसी जानकारी रोजाना आती रहती है, तो आप ऐसी ही सरकारी योजनाओं की जानकारी पाने के लिए हमारे वेबसाइट www.indiangovtscheme.com से जुड़े रहे।
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