The central Government launched the PMRPY(Pradhan Mantri Rojgar Protsahan Yojana) in August 2016, and it aims to promote the hiring of new talent or 'Rojgar Protsahan'.
Benefits of the PMRPY
The PMRPY benefits employers by reducing their EPF expenses.
Under this scheme, the employer benefits by hiring new employees.
For any new employee in this scheme, the Central Government pays the 8.33% of the employer's share into the EPS account.
Eligibility under the PMRPY
This scheme is applicable to the hiring of fresh talent into companies.
This is only eligible for semi-skilled and unskilled labor.
The maximum salary of the employee must be Rs.15,000/- per month.
The employee must be covered under the EPF Act.
He/She must have a UAN(Universal Account Number).
The employee must have a valid Aadhar Card.
Employees should have joined on or after April 2016.
The employee must not have any past UAN or EPF registration.
Duration of the PMRPY Scheme
PMRPY is scheduled to be in operation for a span of three years.
The Government of India will, however, continue to contribute towards the EPS at 8.33 percent, which the employer is to make for the next three years.
Process for the PMRPY Scheme
To avail the benefit, Employers can visit the PMRPY site and log in with their LIN(Labor Identification Number)/EPFO registration ID.
The employer can then fill in the organizational details as mandated.
Register your employee on the portal, by verifying the Aadhar details and providing a digital signature.
The PMRPY form has to be submitted by the end of each month preferably by the 10th of the following month.
Failure to submit the required information online on the PMRPY form by the designated time of 10th of the following month, the employer will stand to lose his/her benefits under the PMRPY Scheme for that particular month.
Now, on checking the EPF challan of the employee, the 8.33% part will automatically show up as filled. This indicates that the Central Government has already paid this amount.
Important: "For the PMRPY Act to be valid, you must pay your PF Amount by the 10th of the next month. For example, if you are paying the PF amount for April, then you must pay before May 10th for this scheme."
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