Maharashtra has topped the list of states with maximum number of beneficiaries under the Atmanirbhar Bharat Rojgar Yojana (ABRY), followed by Tamil Nadu and Gujarat.
Important points:
- It was launched in November 2020 to boost employment in the formal sector and incentivize creation of new employment opportunities during the Covid-19 recovery phase under Atmanirbhar Bharat Package 3.0.
- It provides subsidy for provident fund contribution for adding new employees to establishments registered with the Employees’ Provident Fund Organization (EPFO)
- The organizations of up to 1000 employees would receive employee’s contribution (12% of wages) & employer’s contributions (12% of wages), totalling 24% of wages, for two years.
- Employers with over 1,000 employees will get employees’ contribution of 12%, for two years.
- The subsidy amount under the scheme will be credited upfront only in Aadhaar-seeded EPFO accounts (UAN) of new employees.
Eligibility
- Establishments registered with EPFO will be eligible for the benefits if they add new employees compared to the reference base of employees as in September 2020.
- Establishments, with up to 50 employees, would have to add a minimum of two new employees.
- The organizations, with more than 50 employees, would have to add at least five employees.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT