Hi,
Can someone please explain the process flow of new benefit scheme provided in Atmanirbhar bharat policy 3.0
Since as per the scheme , govt will provide the employer and employee contribution 12%+12% directly to employees adhar link EPFO account , so in this case does employer require to pay the amount of employer contribution to employee or they just do not need to do anything and this will be out from the CTC part of the employee since govt is depositing the same on behalf of employer as well.
I know for employee contribution we need to pay this to employee and not required to deduct it and deposit it further this this scheme runs.
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Hi @Inderjit123.
Sharing what I’m aware of:
The scheme for PF is called as “Aatma Nirbhar Bharat Rozgar Yojana” under the Atmanirbhar bharat policy 3.0.
Under the scheme, those establishments that make new hiring will get a special EPF subsidy from the central government.
Any new employee joining employment in EPFO registered establishments on monthly wage of less than Rs. 15,000 will be eligible to get the benefit. Employees contribution (12%) and employer’s contribution (12%) totalling 24% of wages will be given to establishments for two years, finance minister said.
Every Employees’ Provident Fund Organisation (EPFO) registered establishment taking new employees will be eligible to get the benefit of this subsidy. However, there are some pre-conditions that the employers must fulfill.(The condition will be adding a minimum of two new employees for establishments with up to 50 employees.)
The scheme will cover establishments registered with EPFO if they add new employees compared to the base of employees in September 2020. Those establishments with more than 50 employees, will have to give a minimum of five new jobs. The scheme would be applicable till 30 June, 2021.
** Attaching the presentation that Govt has shared
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an additional condition is that the new hire after 1 Oct 2020 should have lost his job / exited employment between 01 Mar 2020 and 30 Sep 2020.
ram
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Hi Dinesh,
I am unable to see the attachment.
Thanks in advance.
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Thank you for the document.
Will GreytHR take care of these calculation in EPFP reports? Thanks.
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Hi @shefalipatil Yes!
There are no much changes, with respect to the documents, since it will be debited from you, and then credited again.
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Hello everyone…
Can anyone guide me up about the Atmanirbhar scheme for those establishments who have done their pf registration in Oct.20 . Need to understand the applicability of this scheme.
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Our pf consultant told us that so far it is announced but they are waiting for guidelines to be released by EPFO office. After that there will be clarity how to implement
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Hi Folks,
Anyone have updates on this and can we start availing this benefit from Nov month.
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Hi @mimran
I think Yes!
Because it is mentioned as:
“EPF members drawing monthly wage of less than Rs.15000/- who made exit
from employment during COVID Pandemic from 01.03.2020 to 30.09.2020 and is
employed on or after 01.10.2020”
Which means post 1st October 2020 they are eligible
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Hello Everyone,
Wanted to know more on this . Since this scheme is effective from 1st Oct 2020. If an employer has deposited PF for their employees joined on or after 1st Oct , then will they get a refund benefit too from PF dept?
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Hi @Richa
I don’t think we will get a refund as an employer. Since this is directly getting credited to employees PF account.
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Hi,
The ABRY Tab has now been enabled on EPFO employer Login.
First step is to register the Establishment, which we have completed.
Next Step is Member Registration. Does anyone have an idea on how to do the same?
Regards
Vallari
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Hi @VallariD
EPFO portal has some links related to this: https://www.india.gov.in/member-registration-form-epfo
To know more: EPFO Registration: Form, Process and UAN Allotment - PlanMoneyTax
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Such a Fantastic Post
Knw More About Bharat Jan Suraksha Nidhi Yojna
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Thanks for the information dinesh.
can you confirm me ABRY still working or its stop by centre after successful run
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