Taking a crucial step towards increasing employment within the country amidst the coronavirus epidemic, the cupboard approved the Self-Employed India Employment Scheme, under which 12 percent subsidy for PF is given by the govt to both new job seekers and employers Will go. An amount of Rs 1584 crore are going to be provided for facilities and new relief within the current fiscal year and therefore the list of the scheme are going to be kept from 2020 to 2023 and a complete.
It has been reported that about 58.5 lakh employees of the country will enjoy this scheme. The proposal was approved at a gathering of the Union Cabinet chaired by the Prime Minister yesterday. This scheme is taken into account vital . the govt aims to make more and more jobs in India through the Self-Reliant India Employment Scheme and also wants to extend the keenness of employers because the government provides 12 percent grant on PF to both job seekers and employers. it’s also been reported that the Central Government will provide subsidy for a period of two years to all or any new employees inducted by 1 October 2020 or afterward 30 June 2021, although this facility are going to be available only to companies where the amount of employees is around one thousand is.