Union Minister Prakash Javadekar  |  Photo Credit: PTI
- About 72.22 lakh workers working in 3.67 lakh establishments will be benefit from the extension, the govt said
- Scheme covers all the establishments having upto 100 employees and 90% of such employees earning less than Rs 15,000 monthly wage for three months
New Delhi:The Union Cabinet, on Wednesday, approved extending the contribution both 12% employees’ share and 12% employers’ share under Employees Provident Fund (EPF), totalling 24% for another 3 months from June to August.
Union Minister Prakash Javadekar announced a spate of measures as part of the package announced by the government under Pradhan Mantri Garib Kalyan Yojana (PMGKY).
For the wage months of June, July and August, the scheme will cover all the establishments having upto 100 employees and 90% of such employees earning less than Rs 15,000 monthly wage.
About 72.22 lakh workers working in 3.67 lakh establishments will be benefited and would likely to continue on their payrolls despite disruptions. The government will provide a budgetary allocation of Rs 4,800 crore for the financial year 2021 for this purpose.
The beneficiaries entitled for 12% employers’ contribution for the months of June to August under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) will be excluded to prevent overlapping benefit.
Due to prolonged lockdown, it was felt that businesses continue to face a financial crisis as they get back to work. Therefore, FM Nirmala Sitharaman, as part of Aatmanirbhar Bharat, announced on May 15 t