“EPF SUBSIDY SCHEME”(ATMANIRBHAR BHARAT ROZGAR YOJANA)

Objectives

The Scheme proposes to incentivize employers, registered with EPFO, for giving employment to new employees and re-employing persons from low wage bracket (<15000) who lost their jobs during COVID-19 pandemic.

Validity of Scheme

Benefit is available for 24 months from the date of registration or up to 30.06.2023 which ever is earlier

Condition

• The registration date should be between 1.10.2020 to 30.6.2021.
• The wage’s should be <15000.
• Establishments with < 50 Employees should employ min. 2.
• Establishments with >50 Employees should employ min. 5.

Benefit

• Establishment with <1000 Employee’s, entire 24% (12% Employer+12% Employee) contribution will be born by the government.
• Establishment with >1000 Employee’s,12% i.e. Employee share of contribution will be born by the government.