India / Nirmala sitharaman announce over atmanirbhar bharat rojgar yojana PF

Zoom News : Jun 28, 2021, 10:09 PM
New Delhi: The Center on Monday announced eight economic relief measures for the state governments as well as micro finance credit users, providing relief to the country battling the Covid crisis. During this, Union Finance Minister Nirmala Sitharaman announced to increase the self-reliant India Employment Scheme till 31 March 2022. Under this scheme, so far Rs 902 crore has been spent for about 21.42 lakh beneficiaries. Under the new announcement, the government will also bear the share of employees in the PF account in case of new appointments in private companies.

If there is a company with the strength of 1000 employees, then the government will fill the entire PF.

Under this scheme, the government will fill the share of both employer and employee of PF in companies with strength of 1000 employees. In companies with more than 1000 employees, the government will bear 12% of the employee's share. This scheme was implemented on 1 October 2020 which was till 30 June 2021, now its period has been extended.

Relief to those who lost their jobs during the corona epidemic

Under this scheme, any new employee who gets a job in an EPFO-registered establishment on a monthly salary of less than Rs 15,000, he will get the benefit. EPF holders getting salary less than Rs 15,000 lost their job during the COVID pandemic from 01.03.2020 to 30.09.2020 and if they got the job on or after 01.10.2020, they would also get the benefit. The Central Government will give subsidy for two years in respect of newly eligible employees engaged on or after 01.10.2020 on the following scales.

These are also important announcements

Apart from this, the existing relief measures like ECGLS have been augmented. A total of four new measures have been announced to provide loans to Micro Finance Loan users as well as the tourism industry. The Finance Minister announced a guaranteed loan of Rs 50,000 crore for building medical infrastructure. He said that the ECLGS scheme will be increased by Rs 1.5 lakh crore. In addition, Sitharaman announced a loan guarantee of Rs 1.1 lakh crore for the Kovid-affected areas. It is expected that these relief packages will give support to the economy which has been hit by Corona.

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