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Source: The post is based on the article “Aatmanirbhar Bharat Rozgar Yojana (ABRY) Surpasses Employment Generation Target” published in PIB on 30th August 2023
What is the News?
Aatmanirbhar Bharat Rozgar Yojana(ABRY) has exceeded its initial employment generation goals showcasing its success in fostering job creation and recovery during the COVID-19 pandemic.
What is Aatmanirbhar Bharat Rozgar Yojana(ABRY)?
Launched on: 1st October, 2020
Aim: To incentivize employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic.
Benefits under the scheme: Under the scheme, the government of India for a period of two years, is crediting both the employee’ share (12% of wages) and employer’s share (12% of wages) of contribution for establishments with up to 1000 employees.
– For establishments with over 1000 employees, only the employee’s EPF contributions (12% of wages) were covered in respect of new employees.
Eligibility for benefits: An employee drawing a monthly wage of less than Rs. 15000/- who was not working in any establishment registered with the Employees’ Provident Fund Organization (EPFO) before 1st October, 2020.
– The employees who lost their job during Covid-19 pandemic and did not join any EPF covered establishment upto 30.09.2020.
Duration of the scheme: The scheme commenced from 1st October 2020 and registration was open for eligible employers and new employees upto 31st March, 2022.
Achievements of the scheme: The scheme had set a target to benefit approximately 7.18 million employees across India.
– As of July 31, 2023, the ABRY has already achieved an enrolment of over 7.58 million new employees, surpassing its initial employment generation target.
