The Employees Provident Fund Organisation (EPFO) on Wednesday said that the registration date for the Atmanirbhar Bharat Rojgar Yojana (ABRY) has been extended.
In a tweet, EPFO informed that the date for ABRY registrations has been extended till March 31, 2022. The Yojana has been launched to incentivize employers for the creation of new employment along with social security benefits and restoration of loss of employment during COVID-19 pandemic.
As per official sources, the new employees joining and new establishments getting registered under EPF and MP Act, 1952 up to March 31, 2022, are eligible to register.
Key Highlights
-New employees will receive incentive for two years from his/her date of registration.
-Incentive in the form of payment if:
a. Both employees and employer’s contribution i.e 24 per cent of wages in respect of new employees employed in establishments having up to 1000 employees.
b. Only employees’ EPF contribution i.e 12 per cent of wages in respect of new employees employed in establishments having 1000 employees
-Establishment is eligible for incentive if they added prescribed number of new employees, over and above the reference base.
-New employees joining with monthly wage of less than Rs 15,000 entitled to receive benefits of 24 wage months from date of registration.
-Establishments registered with EPFO after October 1, 2020 shall get benefits in respect of all new employees.