As the second wave of Covid-19 brought the economic activities to a halt, worsening the employment scenario in the country, the Centre has decided to extend the Atmanirbhar Bharat Rozgar Yojana till March 31, 2022.
The scheme was so far valid till June 30, 2021.
With an approved outlay of Rs 22,810 crore, the scheme entails subsidy for two years to new employees drawing monthly wages of less than Rs 15,000.
The government would subsidise both employers’ and employees’ share of provident fund (PF) contribution, amounting to 24 per cent of wages for establishment having strength of up to 1,000 employees.
In case of a company with more than 1,000 employees, the government would provide subsidy only for the employees’ share, 12 per cent of the wages.
According to the government, so far benefits worth Rs 902 crore have been given to 21.42 lakh beneficiaries of 79,577 establishments.