Uncategorized

Extension of AtmaNirbhar Bharat Rojgar Yojana

Atma Nirbhar Bharat Rojgar Yojana (Popularly Known as ABRY)  launched on 1st October to encourage employers to create new employment opportunities for youth who were not employed in any PF covered establishment. This scheme is a part of social security benefits and restoration of loss of employment opportunities during the pandemic.

Finance Minister Nirmala Sitharaman announced an extension of Aatma Nirbhar Bharat Rozgar Yojana (ABRY) till 31st March 2022, thereby encouraging employers to create new employment opportunities and restoration of loss of employment opportunities during these crucial periods.

The ABRY scheme is being implemented through the Employees’ Provident Fund Organisation (EPFO) aims to reduce the financial responsibility of the employers of various sectors/industries and will encourage them to hire more workers.

The Ministry of Labour and Employment had publicised a statement issued on 8 February 2021 and declare that under ABRY, the Central Government is going to bear both the employees’ share (12 percent of wages) and employers’ share (12 percent of wages) of contribution payable where employee strength of establishment is less than 1000 and where the employee strength is more than 100 in number will be given the employees’ share only. Please note this ABRY scheme is applicable to only those establishments which are registered establishments by the EPFO. The scheme commenced from 1st October 2020 and now shall remain open for registration of eligible employers and new employees up to 31st March 2022.

Under the scheme, an employee drawing a monthly wage of less than ₹15000, who was not working in any establishment registered with the EPFO before 1st October 2020 and did not have a Universal Account Number or EPF Member account number before 1st October 2020 is eligible for the benefit will be covered. The ABRY scheme aims at boosting employment in the formal sector thereby encourage new employment opportunities during the Covid recovery phase.

Source: https://www.livemint.com/economy/sitharaman-announces-extension-of-aatma-nirbhar-bharat-rozgar-yojana-till-31st-march-2022-11624876583257.html

Leave a Reply

Your email address will not be published. Required fields are marked *