PM Rojgar Protsahan Yojana: Government adding 5.5 lakh beneficiaries a month under scheme

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Mains Paper 2: Governance | Government policies & interventions for development in various sectors & issues arising out of their design & implementation

From UPSC perspective, the following things are important:

Prelims level: Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), Employees’ Pension Scheme (EPS), Universal Account Number (UAN)

Mains level: Employment opportunities in the organized & unorganized sector and government interventions for it


News

Positive response from the PMRPY scheme

  1. The government is adding about 5.5 lakh beneficiaries a month under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)
  2. In March this year, the Cabinet Committee on Economic Affairs approved enhancing the scope of PMRPY scheme

About the scheme

  1. PMRPY scheme was started to incentivise employers for generation of new employment wherein the Government of India pays the employer’s contribution of Employees’ Pension Scheme (EPS) for the new employment
  2. Under the scheme, the government was paying the employers’ contribution of 8.33 percent of wages to the Employees’ Pension Scheme (EPS) for new employees having a new Universal Account Number (UAN) and who joined on or after April 1, 2016 with salary up to Rs 15,000 per month — for first three years
  3. The PMRPY scheme was started in August 2016
  4.  The scheme is aimed at incentivising increasing the employment base of workers in the establishments and facilitate access to social security benefits of the organised sector
Industrial Sector Updates – Industrial Policy, Ease of Doing Business, etc.
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