Finance Minister Nirmala Sitharaman announced measures to revive the economy.
The government on Monday extended the Atmanirbhar Bharat Rozgar Yojana, which was launched in October last year to encourage employment generation, by nine months till March 31, 2022.
Around 21.42 lakh people have benefited from the scheme till June 18, 2021, with a total outgo of Rs 902 crore. The beneficiaries are spread around 79,577 establishments.
"This scheme now, which was valid till June 30, 2021, is being extended till March 31, 2022," Finance Minister Nirmala Sitharaman said while announcing a slew of measures to revive the economy.
Launched on October 1, last year, the approved outlay under the Atmanirbhar Bharat Rozgar Yojana (ABRY), which is aimed at incentivising employers for creation of new employment, restoration of loss of employment through EPFO, is Rs 22,810 crore for 58.50 lakh estimated beneficiaries.
The scheme is being implemented through the Employees Provident Fund Organisation (EPFO) and reduces the financial burden of the employers of various sectors/ industries and encourages them to hire more workers.
Under the ABRY, the Government of India is crediting for a period of two years both the employees' share (12 per cent of wages) and employers' share (12 per cent of wages) of contribution payable for establishment strength up to 1,000 employees and giving a salary of up to Rs 15,000 a month.
In case of establishment strength of more than 1,000 for all those with Rs 15,000 per month salary, only employee's share (12 per cent of wages) is credited by the Government to the EPFO.
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