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Centre to subsidise EPFO contributions for 2 years: Finance Minister
Updated On: 12 November, 2020 03:15 PM IST | New Delhi | IANS
It will provide 12 per cent of the contributions of both employers and the employee for establishments with up to 1,000 employees. With establishments over 1,000 employees, the Centre will only subsidise 12 per cent of the employees contributions
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Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman on Thursday announced 'Atmanirbhar Bharat Rozgar Yojana' to incentivise creation of new employment opportunities during the COVID-19-recovery phase.
The employment scheme effective from October 1 will be applicable to eligible new employees joining the EPFO-registered establishments and for those who exited these concerns during the COVID-19 pandemic (March 1-September 30, 2020) and drawing monthly wages of less than Rs 15,000.
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