Pradhan Mantri Rojgar Protsahan Yojana is a scheme through which the government contributes 12 percent of the new employees through the Employees Provident Fund (EPF) and the Employees Pension Scheme (EPS) for three years. These contributions will be given to those who are registered through EPFO till 1 April 2016 and whose salary is up to Rs 15,000 monthly. The entire system is online and Aadhaar based. Earlier, this benefit was only available to the EPS.
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Know some special things related to this scheme
It is necessary for the eligible employers of the Prime Minister's Employment Promotion Scheme to avail benefits through this scheme that they have included the names of new employees in the staff reference base after August 2016. The reference base of the employees will be determined by the number of employees against whom the employer has submitted 12 percent of salary (3.67 percent EPF and 8.33 percent EPS) by 31 March 2016 and this can be ensured by the monthly ECR of March 2016. For companies that have been registered after 1 April 2016, the reference base can be considered as zero. Thus, the employer can avail of the benefit of the Prime Minister Employment Promotion Scheme for all its new employees.
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For new establishments to be registered with EPFO ​​after 1 April 2016, the reference base will be taken as NIL or NIL employees. Thus, the employer can avail PMRPY for all newly eligible employees.
This scheme is for employees whose monthly salary is less than Rs 15,000 per month. In such a situation, new employees with a salary above Rs 15,000 cannot avail of this scheme. According to the Pradhan Mantri Rojgar Protsahan Yojana website, a new employee is one who is not working in a registered establishment in EPFO ​​on regular basis before 1 April 2016. If the new employee does not have a new UAN, it will be provided by the employer through the EPFO ​​portal. The scheme has a dual benefit where employers are encouraged to expand their employment base and employ large numbers of workers.
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