PM Modi's employment generation incentive scheme crosses 1 crore milestone: Labour Ministry
New Delhi, Jan 18 (IBNS) At a time when political rivals are attacking the Modi government over jobs ahead of the general elections this year, the Labour Ministry said the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), the flagship scheme of the Government for employment generation by incentivising employers, has crossed the milestone of 1 crore beneficiaries as on Jan 14.
PMRPY was announced on Aug 7, 2016 and is being implemented by Ministry of Labour & Employment through the Employees’ Provident Fund Organization (EPFO).
Under the scheme, Government is paying full employers’ contribution of 12% (towards Employees’ Provident Fund and Employees’ Pension Scheme both), for a period of 3 years in respect of new employees who have been registered with the EPFO on or after 1st April 2016, with salary up to Rs. 15,000 per month.
During 2016-17, 2017-18 and 2018-19 (up to 15th January 2019) 33,031, 30,27,612, and 69,49,436 beneficiaries respectively, have been enrolled with EPFO under PMRPY. The number of establishments who have benefitted during the implementation of the scheme is 1.24 lakh, the ministry said.
The entire system is online, Aadhar based with no human interface in the implementation of the scheme.
PMRPY has a dual benefit i.e. on the one hand, the employer is incentivised for increasing the employee base in the establishment through payment of EPF contribution of 12% of wage, which otherwise would have been borne by the employer and on the other hand, a large number of workers find jobs in such establishments.
A direct benefit is that these workers have access to social security benefit through Provident Fund, Pension and Death Linked Insurance. The terminal date for registration of beneficiaries through an establishment under the PMRPY is 31st March, 2019.
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