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New Delhi : Aatmanirbhar Bharat Rozgar Yojana (ABRY) has been launched to incentivise employers for creation of new employment along with social security benefits and restoration of loss of employment during COVID-19 pandemic.
Under the scheme :
- An employee drawing monthly wage of less than Rs 15,000 who was not working in any establishment registered with the Employees’ Provident Fund Organization (EPFO) before October 1, 2020, and did not have a Universal Account Number or EPF Member account number prior to October 1, 2020, is eligible for the benefit.
- Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than Rs 15,000 who made exit from employment during Covid pandemic from March 1, 2020 to September 30, 2020, and did not join employment in any EPF covered establishment up to September 30, 2020, is also eligible to avail benefit.
This scheme being implemented through the Employees’ Provident Fund Organisation (EPFO) reduces the financial burden of the employers and will encourage them to hire more workers. Under ABRY, 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. The scheme commenced from October 1, 2020, and shall remain open for registration of eligible employers and new employees up to June 30, 2021. Government will pay the subsidy for two years from the date of registration, according to a PIB release.
This information was given by Minister of State (I/C) for Labour & Employment Santosh Kumar Gangwar in a written reply in Lok Sabha on March 15, 2021.