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Aatmanirbhar Bharat Rozgar Yojana: Key Points

  • In a bid to recover the economy, Finance Minister Nirmala Sitharaman on Thursday launched a new employment scheme- the Aatmanirbhar Bharat Rozgar Yojana, so as to generate new employment opportunities in the economy.

  • This scheme aims to benefit any person getting employed in an EPFO (Employees Provident Fund Organisation) registered establishment on a monthly wage less than Rs.15,000.

  • FM Sitharaman stated that the scheme would further also benefit any person who left their job between March 1 to September 30 and are employed on or after October 1.

  • As for establishments, they will be able to receive the benefits from this scheme if any EFPO registered establishment with 50 employees, employs at least 2 new employees. Those establishments with more than 50 employees would have to add 5 or more new employees to avail the benefits.

  • Those establishments with 1000 or more employees, would receive employee's contribution (12% of wages) and employer's contribution (12% of wages), which totals upto 24% of wages for 2 years from the government.

  • This total package, FM Nirmala Sitharaman said would amount to Rs. 2.65 lakh crore.