Extended : Big relief by finance minister on Employee Provident Fund
Under the Self-Reliant India Employment Scheme also known as Atma Nirbhar Bharat Yojana, the finance minister of India Nirmala Sitharaman extended the date of central governments contribution towards Employee Provident Fund (EPF) from June 30, 2021 to March 31, 2022.
Briefly putting a spotlight on what the scheme stated, under EPF the 12% share deducted from the salary of employee was to be paid by the central government as well as the 12% of employer’s share making it a total of 24% complete relief to employees and employers.
Benefits/Conditions of the Initiative
The contribution made by the government will be done in electronic manner through Aadhar linked Universal Account Number (UAN) allotted by Employee Provident Fund Organization (EPFO) to the employees working in organizations which are enrolled.
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