The Finance Minister today announced the Atmanirbhar Bharat Rozgar Yojana. The scheme is being launched to incentivise creation of new employment opportunities during the Covid-19 recovery phase. This will be effective from Oct. 1, 2020, for the next two years. Benefits under the new scheme are for any new employee joining employment in EPFO registered establishments on monthly wages less than Rs 15,000.
EPF members drawing monthly wages of less than Rs 15,000 who made exit from employment during the Covid 19 pandemic from March 1, 2020 to Sept 30, 2020 and are employed after Oct 1, 2020, would be eligible. This will be effective from Oct. 1, 2020, for the next two years.