Introduction
The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) is a flagship scheme of the Government of India that was launched in August 2016 to incentivize employers for promoting employment generation. The scheme was recently enhanced by the Cabinet to provide additional incentives to employers for hiring and retaining workers. The enhanced scheme will provide employers with an incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for all new employees who are hired and retained for at least three months. This incentive will be provided for a period of two years. The scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least three years. This incentive will be provided for a period of three years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least five years. This incentive will be provided for a period of five years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least seven years. This incentive will be provided for a period of seven years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least nine years. This incentive will be provided for a period of nine years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least eleven years. This incentive will be provided for a period of eleven years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least thirteen years. This incentive will be provided for a period of thirteen years. The enhanced scheme will also provide an additional incentive of 12% of the employer’s contribution to the EPF for all new employees who are hired and retained for at least fifteen years. This incentive will be provided for a period of fifteen years.
The enhanced PMRPY scheme is expected to benefit over 1.25 crore workers and will help to create more jobs in the country. It will also help to reduce the burden of unemployment and will provide a much needed boost to the economy.
Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme Enhanced By Cabinet
The Cabinet has approved the enhancement of the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme. The scheme was launched in August 2016 to incentivize employers for promoting employment generation.
Under the enhanced scheme, the government will now provide an incentive of up to Rs. 10,000 per month for two years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the formal sector.
The scheme will also provide an additional incentive of Rs. 3,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the informal sector.
The scheme will also provide an additional incentive of Rs. 1,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the rural areas.
The scheme will also provide an additional incentive of Rs. 2,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the North Eastern Region.
The scheme will also provide an additional incentive of Rs. 5,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the Special Category States.
The scheme will also provide an additional incentive of Rs. 5,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the Union Territories.
The scheme will also provide an additional incentive of Rs. 5,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the Jammu and Kashmir.
The scheme will also provide an additional incentive of Rs. 5,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the Ladakh.
The scheme will also provide an additional incentive of Rs. 5,000 per month for three years to employers for new employment generated during the period from October 1, 2020 to June 30, 2021. This incentive will be provided to employers for new employment generated in the Himachal Pradesh.
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Pradhan Mantri Rojgar Protsahan Yojana is a recent scheme implemented in the year 2016 to bring more employee sunder employee provident fund scheme by paying the 8.33% pension contribution of employers by the government. Here is a good news for all the employers that Indian cabinet committee of economic affairs chaired by our prime minister Shri Narendra Modi has given approval for enhancing the Pradhan Mantri Rojgar Protsahan Yojana, As per this enhancement to Pradhan Mantri Rojgar Protsahan Yojana the central government will pay the pension contribution of 8.33% to all the new EPF members up to 3 years.
Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme Details:
The central government initially planned to run this scheme up to 2019-2020 but due to the positive results coming from this scheme the cabinet has given the approval to enhance the PMRPY Scheme. Now employers don’t need to worry about taking employees in the regular basis because they don’t need to pay 8.33% pension contribution of the employer for 3 years, only they need to pay 3.67% of employer PF contribution. When the employers recruit more number of employees on regular basis then all those employees will get benefit from Employee Provident Fund Scheme.
Also Read: Details Of New Pensioner’s Portal Launched By EPFO
How To Register Employees In EPFO Without Aadhar Details
Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme is a boon to all the employees whose monthly basic wage is less than 15000 Rs. This scheme is applicable to all the employees who have enrolled in EPF scheme after 1 April 2016. So as an employer whenever you are going to enrol the new member in PF portal with new UAN number then you can avail the benefits of Pradhan Mantri Rojgar Protsahan Yojana scheme benefits.
In order to avail the benefits of Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme, you need to register your new employees in PMRPY portal. After successful registration of employees in PMRPY portal, the ECR challan amount will be automatically adjusted by deducting 8.33% contribution of employer share.
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Cabinet Enhances Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme
The Cabinet has recently approved the enhancement of the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme. This scheme was launched in August 2016 to incentivize employers for promoting employment generation. The scheme has been enhanced to provide additional incentives to employers for the period of March 2020 to June 2020.
Under the enhanced scheme, the government will provide an additional incentive of 12% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with up to 100 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The scheme will also provide an additional incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with more than 100 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The scheme will also provide an additional incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with more than 500 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The scheme will also provide an additional incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with more than 1000 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The scheme will also provide an additional incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with more than 5000 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The scheme will also provide an additional incentive of 8.33% of the employer’s contribution to the Employees’ Provident Fund (EPF) for the period of March 2020 to June 2020. This incentive will be provided to all establishments with more than 10000 employees, with 90% of them being new employees. This incentive will be provided to employers who have registered with the Employees’ Provident Fund Organisation (EPFO) on or before February 29, 2020.
The enhanced Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme is expected to benefit more than 6 crore employees and employers. It is expected to provide a major boost to the employment generation in the country.
