The Centre will soon move a note to get the cabinet's approval for rolling out the Atmanirbhar Bharat Rozgar Yojana aimed at creating jobs.
The labour ministry will move the (cabinet) note in the next 15 days and has begun working on framing the rules for the programme that will be issued soon after the cabinet note is moved, an official told the Economic Times.
Finance Minister Nirmala Sitharaman had on November 12, announced Rs 2.65 lakh crore worth economic stimulus package, termed as Atmanirbhar Bharat 3.0, comprising 12 big measures to revive the economy marred by coronavirus pandemic. These measures included the Atmanirbhar Bharat Rozgar Yojana to generate employment.
Under the programme, the Centre will provide subsidy for two years in respect of newly eligible employees engaged on or after October 1, 2020 under the scheme.
Employee contributions (12 per cent of wages) and employer contributions (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years.
Under the scheme, every Employees' Provident Fund Organisation (EPFO) registered establishment taking new employees would get this subsidy.
It will cover any new employee joining employment in an EPFO-registered establishment on monthly wages of less than Rs 15,000. It would also cover EPF members drawing monthly wages of less than Rs 15,000, who made an exit from employment during COVID-19 pandemic from March 1, 2020 and are employed on or after October 1, 2020.
The programme would cover establishments registered with EPFO if they add new employees compared to the reference base of employees as in September 2020. The condition would be to add a minimum of two new employees for establishments with up to 50 employees. Those establishments with more than 50 employees would have to give a minimum of five new jobs.
The Atmanirbhar Bharat Rozgar Yojana will be operational until June 30, 2021.