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Atmanirbhar Bharat Rozgar Yojana" is being launched to boost employment in formal sector and incentivize creation of new employment opportunities during the Covid recovery phase under Atmanirbhar Bharat Package 3.0.

Details

• This scheme being implemented through the Employees’ Provident Fund Organisation (EPFO), reduces the financial burden of the employers of various sectors/industries including MSME and will encourages them to hire more workers.
  
• Under ABRY, the Government of India is bearing both the employees’ share (12% of wages) and employers’ share (12% of wages) of contribution payable or only the employees’ share, depending on employment strength of the EPFO registered establishments. 

Benefits

Government of India will provide subsidy for two years in respect of new employees engaged on or after 1st October, 2020 and upto 30th June, 2021 at following scale

• Establishments employing up to 1000 employees: Employee’s contributions (12% of Wages) & Employer’s contributions (12% of wages) totalling 24% of wages
• Establishments employing more than 1000 employees: Only Employee’s EPF contributions (12% of EPF wages)

The subsidy support to get credited upfront in Aadhaar seeded EPFO Account (UAN) of eligible new employee.

Source: PIB