Atmanirbhar Bharat Rozgar Yojana: Know details of new employment scheme with EPFO support

Finance Minister Nirmala Sitharaman on Thursday announced a fresh stimulus worth Rs 2,65,080 crore to boost the coronavirus-hit economy.

Addressing a press conference, the Finance Minister announced 12 new measures -- pronouncing it as Atmanirbhar Bharat 3.0. Sitharaman added that the overall cost of the packages announced till date is estimated at Rs 29,87,641, which is 15 per cent of the country's GDP. 

Sitharaman announced ‘Atmanirbhar Bharat Rozgar Yojana’ to revive employment opportunities. 

5 salient features about the Atmanirbhar Bharat Rozgar Yojana:

1. The Atmanirbhar Bharat Rozgar Yojana is operational during the period from October 1, 2020 to June 2021.

2. Atmanirbhar Bharat Rozgar Yojana announced to incentivise the creation of new employment opportunities during the COVID recovery phase.

3. The employment scheme effective from October 1 will be applicable to eligible new employees joining the EPFO-registered establishments.

4. It is for those who exited these concerns during the COVID pandemic (March 1-September 30, 2020) and drawing monthly wages of less than Rs 15,000.

5. Central government will subsidise the Employees’ Provident Fund (EPF) contributions for two years.