The Pradhan Mantri Rozgar Protsahan Yojana (PMRPY), the flagship scheme of the Union Government for employment generation, crossed the milestone of one crore beneficiaries on January 14, 2019.
About Pradhan Mantri Rojgar Protsahan Yojana:
- The scheme “Pradhan Mantri Rojgar Protsahan Yojana”
- (PMRPY) was announced in the Budget for 2016-17.
- The objective of the scheme is to promote employment generation.
- The scheme is being implemented by the Ministry of Labour and Employment through the Employees’ Provident Fund Organization (EPFO).
- Under the scheme, Government is paying full employers’ contribution of 12% (towards Employees’ Provident Fund and Employees’ Pension Scheme both), for a period of 3 years in respect of new employees who have been registered with the EPFO on or after 1st April 2016, with salary up to Rs. 15,000 per month.
PMRPY has a dual benefit –
- The employer is incentivised for increasing the employee base in the establishment through payment of EPF contribution of 12% of wage, which otherwise would have been borne by the employer.
- A large number of workers find jobs in such establishments.
- A direct benefit is that these workers have access to social security benefit through Provident Fund, Pension and Death Linked Insurance.