Aatmanirbhar Bharat Rozgar Yojana

Why is in news? Aatmanirbhar Bharat Rozgar Yojana (ABRY) Surpasses Employment Generation Target

The Central Government's innovative employment incentive scheme, the Aatmanirbhar Bharat Rozgar Yojana (ABRY), has exceeded its initial employment generation goals, showcasing its success in fostering job creation and recovery during the COVID-19 pandemic.

"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.

The scheme is to be operational for the period 2020-2023.

Beneficiaries:

An employee drawing monthly wage of less than Rs. 15000/- who o was not working in any EPFO registered establishment and did not have a Universal

Account Number (UAN) prior to 01st October, 2020 who joins employment in any establishment on or after 01.10.2020 up to 31.03.2022 and who is allotted Aadhaar validated UAN

Any EPF member, already allotted with UAN, who made exit from employment during the period from 01.03.2020 to 30.09.2020 (Covid Pandemic) from any establishment and who joins in any establishment on or after 01.10.2020 and up to 31.03.2022.

The incentive is payable by the Central Government by upfront credit in the UANs of the new employees.

Eligibility criteria:

Establishments registered with EPFO if they add new employees compared to reference base of employees as in September, 2020 as under:

minimum of two new employees if reference base is 50 employees or less.

minimum of five new employees if reference base is more than 50 employees.

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.