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Pradhan Mantri Rojgar Protsahan Yojana

Pradhan Mantri Rojgar Protsahan Yojana

Pradhan Mantri Rojgar Protsahan Yojana

Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) offers incentives for employers, registered with EPFO (Employees Provident Fund Organization), for creating new employment, where the Indian government will be spending 8.33% EPS contribution associated with employer towards newer employment generated for up to 3 years. The scheme is being launched by Ministry of Labour and Employment and it is still in use since August 2016.

Objectives of PMRPY Scheme

The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) is a scheme created for incentivizing employers registered with Employees Provident Fund Organization (EPFO) for the creation of job by Government playing 8.33% contribution of employees to the EPS with respect to new employees having a new UAN. For the textile industry, the government will be playing about 3.67% EPF contribution for the eligible employer for those newer employees.

The scheme has a dual advantage, where, primarily, the employer is incentivized for boosting the employment base of workers in the company; secondly, a huge number of workers will acquire jobs in such establishments. Moreover, the direct advantage is that workers will have quick access to social security advantages of the organized sector.

Concept of Employment Incentive Scheme by Prime Minister

When presenting the budget for the current year 2016-2017, it was declared by the concerned ministry, Pradhan Mantri Rojgar Protsahan Yojana (PMRY) is to encourage new jobs in official areas, the government of India plans to offer new employees with 8.33% EPS which will be deposited in this scheme. The employees, who get the salary of Rs. 15 thousand or less than that, can able to apply for this scheme. The scheme has been implemented by considering the objective of inefficient and semi-skilled employees.

pradhan mantri rojgar protsahan yojana

Budget Allocation & Details

In the Union Budget 2017-2018, the Government has offered Rs. 1000 crore for this scheme, along with funds from SCSP, TSP, and North East. The details of this scheme, as well as the launch date, are yet to be defined.

Guidelines of PMRPY

  • This scheme has been introduced from 9th August 2016. And the time duration is fixed for 3 years.
  • Promotions under PMRPY are found applicable only for those employees whose monthly income is 15000 or less than 15000.
  • This scheme is applicable only to new employees who have not worked previously in any such institute and who have registered in Employees Provident Fund Organization (EPFO). Employees who are already employed but do not have his UAN number already can apply.
  • Under this scheme, there will be a provision of incentive for the amount deposited in Employee pension scheme by Government of India
  • Pradhan Mantri Rojgar Protsahan Yojana is applicable only for three years, & the government of India will promote EPS at the interest rate of 8.33% for newer employees of all eligible units.
  • About 3.5 lakh establishments that hire more than 20 works will be covered at this time.

Eligibility Criteria For Registering PMPRPY Scheme

For taking part in Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), the employer will be found eligible only after meeting the below-mentioned criteria:

  • The establishments have to compulsorily register with Employees Provident Fund Organization (EPFO) for getting advantages related to this scheme.
  • As per the Pradhan Mantri Rojgar Protsahan Yojana, Labor Identification number will be considered as a primary signal for any topic.
  • The establishment must own a valid organizational PAN, bank account and digital signature through which payments for establishments must be made.
  • The employer having eligibility under Pradhan Mantri Rojgar Protsahan Yojana must add all the eligible employees within their reference area.
  • For newer establishments which are getting EPFO registration after 1st April 2016, the employer can easily get the PMRPY benefits for all the qualified new employees.
  • The reference base for workers will be estimated by a number of employees against whom the employer has deposited about 12% with EPFO as on 31st March 2016, as verified/ascertained from the monthly ECR for March.
  • The PMRPY scheme is available only for employees who earn wages less than Rs. 15, 000 per month. Moreover, the new employees earning more than Rs. 15, 000 will not found eligible for this.

Procedure To Be Followed For Getting Benefit Under PMRPY

  1. Employer must log in to the Employer interface of unified portal of EPFO
  2. Employer must register new employees with their Aadhaar information gathered during the month through bulk or individual registration
  3. The employer will receive UAN allotted for their new employees and hence approve Aadhaar information with this.
  4. Employer must log in to the PMRPY portal
  5. The employer has to include new members who are found eligible for PMRPY scheme on PMRPY website. The PMRPY online seems to be digitally signed by the employer. This activity must be finished before 10th of every month or prior to submitting ECR for that month, whichever found to be earlier.
  6. Employer will log in with the unified portal of EPO employee interface
  7. The employer will provide the ECR without any change with regards to PMRPY scheme, that is, the employer will mention pension share (8.33%) & employer EPF share (3.67%) in ECR file against the PMRPY eligible member.
  8. The system will create challan for payment after adjusting amount eligible under PMRPY scheme
  9. Thus, the system, via ECR portal of EPFO, would facilitate the employer for the dues remittance excluding the subsidy component as determined in above step.

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