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Cabinet approves extension of EPF support for 3 months till August

Cabinet meeting decisions: Cabinet has also approved the extension for availing benefits of the Pradhan Mantri Garib Kalyan Yojana for Ujjwala beneficiaries by three months with effect from July 1

twitter-logoBusinessToday.In | July 21, 2020 | Updated 14:25 IST
Cabinet approves extension of EPF support for 3 months till August
Cabinet meeting announcements

The Union Cabinet has extended the period of EPF support for businesses and workers for three more months, stated Minister Prakash Javadekar during a press conference on Wednesday. "Cabinet approves extension of EPF contribution of 24 per cent (12 per cent employees share and 12 per cent employers share) for another 3 months from June to August 2020 under Pradhan Mantri Garib Kalyan Yojana/Atma Nirbhar Bharat," said the minister. Javadekar said that the estimated cost of this would be Rs 4,860 crore and it will benefit 72 lakh employees.

Under this scheme the Centre would pay the EPF contribution of employer and employee for establishments that have up to 100 employees. Out of that 90 per cent must be earning under Rs 15,000 monthly wage. This scheme would incentivise around 4 lakh establishments.

The minister said that the Cabinet has also approved the extension for availing benefits of the Pradhan Mantri Garib Kalyan Yojana for Ujjwala beneficiaries by three months with effect from July 1. "Pradhan Mantri Garib Kalyan Yojana (PMGKY) aims to provide a safety net to the poor and vulnerable who have been hit the hardest by the pandemic. The time limit has been extended till September for availing the benefits of the scheme. This move will cost Rs 13,500 crores," said Javadekar.

The Cabinet also approved the extension of the Pradhan Mantri Garib Kalyan Anna Yojana by five months till November. "About 74.3 crore beneficiaries were covered in April, 74.75 crore in May and about 64.72 crore in June under this scheme," Javadekar said. PM Modi had last month announced that PMGKAY would be extended till November-end, costing the government Rs 90,000 crore,

The Cabinet gave the nod for the development of the Affordable Rental Housing Complexes (AHRCs) for urban migrants/poor as a sub-scheme under Pradhan Mantri Awas Yojana.

Prime Minister Narendra Modi chaired a meeting of the Cabinet on July 8. Union Home Minister Amit Shah, Union Finance Minister Nirmala Sitharaman, Union Health Minister Dr Harsh Vardhan and Defence Minister Rajnath Singh were present during the meeting.

Also read: Cabinet approves extension of PM Garib Kalyan Anna Yojana till November

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