Manage Money

Pradhan Mantri Rojgar Protsahan Yojana

PMRPY scheme is launched to encourage employers to provide more employment opportunities, where Government of India will pay 8.33% EPS (Employee Pension Scheme) contribution of the employer for the new employment.There are dual benefits of the scheme where in on one side the employer is getting incentives for increasing employment opportunities in his/her establishment, and on the other side, a large number of people will get job opportunities. In addition to job opportunity, another advantage for the workers is that they will get direct access to social security benefits in the organized sector.

Features of the scheme:

All establishments, which are registered with EPFO, can apply for PMRPY on the the basis of certain conditions:

  1. The establishment must have a Labour Identification Number (LIN) to apply, which has been allotted under Shram Suvidha Portal.

  2. The eligible employer should add new workers to the reference base before applying for the scheme from August, 2016 onwards. The reference base is calculated based on the number of employees for whom 12% (3.67% EPF + 8.33% EPS) is deposited with EPFO as on 31st March, 2016 verified from the monthly Electronic Challan Return (ECR) as of March, 2016. The new employee is referred to as one who hasn’t worked before in any of the establishment registered with EPFO or has a Universal Account Number (UAN). In case the new employee doesn’t have UAN, the employer can avail the new UAN for the employee through EPFO portal.

  3. The reference base will be considered zero for the new establishments which got registered after 1st April, 2016, so the employer can avail the benefits for upcoming employees.

  4. This scheme is targeted for the workers who are earning wages less than Rs 15,000/month.

  5. The employer will continue to get 8.33% contribution from the government for new employee for the next years, only if the employee continues employment with same employer along with which the employer also needs to pay 3.67% EPS contribution for new employees each month.

  6. The employer needs to submit the PMRPY form by the 10th of the next month, for avoiding penalty on EPF or EPS contribution.

  7. The employer or establishments that are applying for this scheme will be responsible for the information they are uploading. If any information provided is false, then the employer will be liable to pay the dues or penalty as per the Employment Provident Fund Scheme, 1952.

  8. All new employees will be covered under PMRPY till 2019-2020.

  9. This scheme is mainly for the benefits of textile establishments.

How to Link Aadhaar with EPF Account?

Here is the process of linking Aadhaar with EPF:

  1. Click here to get the EKYC Portal

  2. Fill UAN details and mobile number for generating OTP.

  3. Type the OTP which is received on your mobile number and select the gender.

  4. Put the Aadhaar number in the next step and select “aadhaar verification” method. There are two options to choose from:

    1. e-mail/mobile based OTP

    2. Using biometric

  5. Choose the option 1 for completing the verification method.

Benefits of Linking Aadhaar with EPF account:

  1. As Aadhar contains all the verified information including biometric and demographic info, linking it with EPF makes the process of verification easier.

  2. Data discrepancies will be reduced after linking Aadhaar with EPF and UAN.

  3. Chances of having duplicate EPF accounts will be reduced.

  4. PF can be withdrawn online without the attestation of employer.

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

DMCA.com Protection Status