Aatmanirbhar Bharat Rozgar Yojana: Details you need to know
Aatmanirbhar Bharat Rozgar Yojana (ABRY) has been launched to incentivize 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. 15000/- who was not working in any establishment registered with the Employees’ Provident Fund Organization (EPFO) before 1st October 2020 and did not have a Universal Account Number or EPF Member account number prior to 1st October 2020 is eligible for the benefit.
- Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than Rs. 15000/- who made exit from employment during Covid pandemic from 01.03.2020 to 30.09.2020 and did not join employment in any EPF covered establishment up to 30.09.2020 is also eligible to avail benefit.
This scheme is implemented through the Employees’ Provident Fund Organisation (EPFO), reduces the financial burden of the employers of various sectors/industries including MSME, and will encourage them to hire more workers.
Under ABRY, the Government of India is bearing both the employees’ share (12% of wages) and employers’ share (12% of wages) of contribution payable or only the employees’ share, depending on the 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 30th June 2021. The government will pay the subsidy for two years from the date of registration.
The outlay approved by the Government for the total period of scheme implementation i.e. from 2020 to 2023 is Rs. 22810 Crore.
This information was given by Minister of State (I/C) for Labour & Employment Shri Santosh Kumar Gangwar in a written reply in Lok Sabha today.
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