PM’s Employment Scheme Achieves Major Milestone: Benefits Over 1 Crore Job Seekers, 100 Per Cent Rise In 2018-19
NDA government’s flagship employment scheme, Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) has crossed the significant milestone of one crore beneficiaries. This feat was achieved on 14 January 2019.
While only 33,031 beneficiaries were enrolled under the scheme in 2016-17, the number rose to 30,27,612 in 2017-18. However, the number of recipients more than doubled to 69,49,436 in just ten months during 2018-19. Also,1.24 lakh establishments across the country have benefited from the scheme till date.
It should be noted that the entire system is online and based on Aadhaar with no human interface in the implementation of the scheme.
What And How
Launched by Prime Minister Narendra Modi on 7 August 2016, PMRPY encourages employers to hire more people and promote employment in the country.
Under the scheme, the government pays the entire employers’ contribution of twelve per cent (towards both Employees’ Provident Fund and Employees’ Pension Scheme), for three years. These benefits are only applicable for new employees hired on or after 1 April 2016, registered with the EPFO and with salaries less than Rs 15,000 per month.
Many view this scheme as a win-win situation for both the employers and employees - as on one hand, the employer is incentivised for increasing the employee base in the establishment through payment of EPF contribution of 12 per cent of the wage, which otherwise would have been otherwise borne by the employer and on the other hand, a large number of workers find jobs in such establishments.