Union Cabinet has approved Atmanirbhar Bharat Rojgar Yojana (ABRY). The scheme is launched at an expenditure of Rs. 1,584 crores for the current financial year and Rs.22,810 crores for the entire Scheme period i.e. 2020-2023; scheme to benefit around 58.5 lakh employees.
Union Cabinet on December 9, 2020 approves the Atmanirbhar Bharat Rozgar Yojana, informed by the Labour Minister Santosh Gangwar.
The scheme will encourage both the employee and the employer. Atmanirbhar Bharat Rojgar Yojana will be considered applicable on 1 October 2020 and the scheme will remain till 30 June 2021. For this, the government has decided to spend more than Rs 22,810 crore.
Union Cabinet has approved Atmanirbhar Bharat Rojgar Yojana at an expenditure of Rs. 1,584 crores for the current financial year and Rs.22,810 crores for the entire Scheme period i.e. 2020-2023; scheme to benefit around 58.5 lakh employees— ANI (@ANI) December 9, 2020
Atmanirbhar Bharat Rojgar Yojana Benefits: Under the Wednesday approved ABRY scheme, employees (new appointees) will be given subsidy. The subsidy will be given to cover the PF contribution, by the Employers and Employers, for two years.
In this aspect, Government to provide subsidy to the employees for 2 years, equal to 12% contribution by the employer and 12% by the employer. Govt has also said that it will provide Rs 22,810 crore towards employee, employer contribution to retirement fund of new hired, for 2 yrs.