UPSC IAS Prelims Exam 2019 Important Govt Schemes
The scheme is implemented by Ministry of Labour and Employment with an objective to promote employment generation
Central Government will be paying the 8.33% EPS contribution of the employer for the new employment.
New Changes:
- The Central Government will now contribute Employers full admissible contribution for first 3 years from date of registration of new employee for all sectors including existing beneficiaries for their remaining period of 3 years.
- All Industries registered with Employees‟ Provident Fund Organization (EPFO) can apply for availing benefits under the scheme.
- It is for new employees (joined on or after 1st April 2016) having new Universal Account Number (UAN).
- It is targeted for employees earning wages less than Rs. 15,000/- per month.
- The scheme will be in operation for a period of 3 years and GOI will continue to pay and all new eligible employees will be covered till 2019-20.