Those whose salary is less have been gifted by the Modi government. Under the 'Self-reliant Bharat Rojgar Yojana' will contribute to the Retirement Fund for two years for new employees to be hired by companies and other units from 1 October 2020 to 30 June 2021.
The fund will be from the government and the employer. The government will now bear the burden of 12 percent of the employee and 12 percent of the employer's provident fund (EPF) on the new appointment at a lower salary in the meantime.
Employees who get a salary of Rs 15,000 or less every month will benefit. Under this, only those people who were not working in an institution related to an employee provident fund organization before October 1, 2020, and do not have a UAN account.
It will also benefit those who have a UAN account and a monthly salary of less than Rs 15,000, but between 1 March 2020 and 30 September 2020, the Kovid-19 epidemic went away and after that, no job in any institute associated with EPFO Should be
According to the government, it will bear the expenses of both the parts of companies providing new jobs to 1,000 people. Whereas, companies employing more than 1,000 people will bear the burden of contributing 12 percent of every employee for two years.