Union Cabinet approves Atmanirbhar Bharat Rojgar Yojana
Union Cabinet has approved Atmanirbhar Bharat Rojgar Yojana at an expenditure of Rs 1,584 crore for the current financial year. An amount of Rs 20,810 crore has been approved for the entire Scheme period 2020-2023. Under the scheme, the government will provide subsidy for two years in respect of new employees engaged on or after 1st October, 2020 and upto 30th June, 2021. The government will pay both 12 per cent employees’ contribution and 12 per cent employers’ contribution that is 24 per cent of wages towards EPF in respect of new employees in establishments employing upto 1,000 employees. EPFO will credit the contribution in Aadhaar seeded account of members in electronic manner.