Centra government started Atmanirbhar Bharat Rozgar Yojana (ABRY) to generate new employment opportunities for the employees who lost their jobs due to the pandemic. This scheme came into effect from October 1, 2020 and is operational till June 30, 2021. Finance Minister Nirmala Sitharaman initially announced the scheme details on November 12, 2020. As per the data from Employees Provident Fund Organisation (EPFO), more than 20 lakhs jobs were lost in the initial months of the pandemic. This scheme tends to cover all the employees with a minimum monthly pay of Rs. 15,000 or less. In view of the second wave of the pandemic, government is planning to extend the end date of the scheme beyond June 30, 2021. The plan to extend the scheme is for the next 6 months and an official notification regarding the same might be released soon. Under this scheme, about 16.5 lakh jobs have been provided till March 9, 2021.
|Scheme name:||Atmanirbhar Bharat Rozgar Yojana|
|Scheme under:||Central Government|
|Announced By:||Finance Minister, Nirmala Sitharaman|
|Announcement date:||November 12, 2020|
|Launch Date:||October 1, 2020|
|Operational Till:||June 30, 2021|
|Main Objective:||To create new jobs to help those who are unemployed due to the pandemic situations|
Scheme Objectives and Benefits:
- The main objective of the scheme is to create jobs for helping those who are affected by loss of jobs during the pandemic
- This scheme is beneficial for the unemployed youth in the country
- EPFO registered establishments get 24% of EPF subsidy from the government under the scheme
- All the employees with a minimum monthly pay of Rs. 15,000 or less are covered under this scheme
- Under this scheme, about 16.5 lakh jobs have been provided till March 9, 2021
- These employments contribute in the development of the overall economic state in the long run.
- It will help revive the economy affected due to the pandemic and lock-down situations
- Atmanirbhar Bharat Rozgar Yojana (ABRY) is launched by the Central government from October 1, 2020
- It was announced by Finance Minister, Nirmala Sitharaman on November 12, 2020
- This scheme aims at creating new employment opportunities for the people who lost their jobs during the pandemic situations in the country thereby resolving the unemployment faced
- Under this scheme, a minimum net addition to the workforce by the private firms and companies is decided
- Hereby the private companies with less than 50 employees are required to hire 2 new employees each month and companies with more than 50 employees are required to hire at least 5 new employees
- Centre keeps a check and monitor the payroll of such firms and companies
- This minimum net addition limit is only applicable for the employees with a pay up to Rs. 15,000 per month.
- If in any month this minimum limit of job addition is missed by any firm then the EPF subsidy will be discounted for that particular month
- Centre will give 24% of EPF subsidy to the firms and companies for 2 years which will include employee contributions and employer contributions at the rate of 12% each.
- This scheme will ensure the minimum limit on addition of new employees is maintained by the private firms and companies
- His scheme covers private firms and companies registered under EPFO
- Atmanirbhar Bharat Rozgar Yojana is operational till June 30, 2021
- Seeing the impact of the second wave of pandemic, the government is planning to extend the due date of the scheme for the benefit and welfare of people