PRADHAN MANTRI ROZGAR PROTSAHAN YOJANA (PMRPY)

About:

• Objective: The Centre's flagship scheme incentivises employers to promote employment generation.
  
  
• Salient features: Under it, government pays full employers’ contribution of 12 % (towards Employees’ Provident Fund and Employees’ Pension Scheme), for a period of 3 years to new employees registered with EPFO on or after 1st April 2016, with salary up to 15,000 rupees/month.
  
  
• Launched in:
  
  
• Implemented by: Ministry of Labour and Employment through the Employees’ Provident Fund Organization (EPFO).
  
  
• Benefits: PMRPY has a dual benefit i.e.
  • on the one hand, 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.
    
    
  • On the other hand, a large number of workers find jobs in such establishments. These workers also have access to social security benefit through Provident Fund, Pension and Death Linked Insurance.
    
    
  
  
  
• Present status:2 Lakh establishments have benefitted from the scheme.