Introduction
Today’s era is all about competition where finding a good job seems next to impossible. With the population increasing day by day, it seems tough to search for a job, especially for those who are semi-skilled and unskilled. Due to many facing the unemployment problem, the PMRPY Scheme was launched to cure the problem of unemployment. The PMRPY Scheme has been launched considering the needs of semi-skilled and unskilled workers of India. PMRPY full form is Pradhan Mantri Rojgar Protsahan Yojana.
~Creating job opportunities,
~Assisting less and semi-skilled workers
~extending social security benefits
are the prime objectives of the PMRPY Scheme to help in increasing the job opportunities across India. Let us get into the detail of the objectives of Pradhan Mantri Rojgar Protsahan Yojana.
The 2016-17 Budget stated “In order to incentivize the creation of new jobs in the formal sector, Government of India will pay the Employee Pension Scheme Contribution of 8.33% for all new employees for the first three years of the employment and will aim to convert informal workers into formal ones. Targeting those group of semi-skilled and unskilled workers having salary less than Rs. 15,000 per month.”
PMRPY Objective
PMRPY is introduced in order to encourage employers that are registered with the Employees’ Provident Fund Organisation (EPFO) for job creation by the Government by paying 8.33% contribution of employers to the Employee Pension Scheme (EPS) in respect of new employees having a new Universal Account Number (UAN).
Pradhan Mantri Rojgar Protsahan Scheme is implemented by the Ministry of Labour and Employment which became operational from August 2016. It provides two benefits in one go, as on one hand, the employer is being incentivized in order to increase the employment base of workers and on the other hand, it offers various job employment opportunities. Not only this but if applied for Pradhan Mantri Rojgar Protsahan Yojana Registration, all the social security benefits shall also be granted.
Eligibility for PMRPY
EPFO-registered establishments are eligible to avail benefits and be registered under the Pradhan Mantri Rojgar Protsahan Yojana. However, there are some additional requirements as well, namely:-
- Must have Labour Identification Number (LN) that is allotted under the Shram Suvidha Portal
- Applicable to only those employees whose wages are less than Rs. 15,000 per month
- EPFO registered establishments must have valid organisational PAN
- Proper Bank Account
- Timely submitted ECR for the month of March 2016
- Establishment must have increased their employees on or after 2016
- All new employees added under the establishments registered after 01.04.2016 can be covered subject to meeting some of the necessary conditions
- EPS Contribution for the new employee will be available for 3 years
- Employer must have added new employees to the Establishment
Duration of PMRPY Scheme
The Pradhan Mantri Rojgar Protsahan Yojana is said to come into operation for a time duration of 3 years and full contribution shall be made by the employer for the next 3 years. This simply means, that all the new employees will be covered under the PMRPY Scheme till the year 2019-20.
