All Important Facts About The Pradhan Mantri Rojgar Pro...

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All Important Facts About The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)

· Protsahan Yojana,Finance,UAN,UAN Number

Pradhan Mantri Rojgar Protsahan Yojana also known as the PMRPY is a new initiative that has been started by the Indian Government to increase employment opportunities. Under this scheme, the Government pays the employer’s share of the Employee Pension Scheme (EPS) which stands at 8.33% and Employee Provident Fund (EPF) which is set at 3.67% for a period of first three years.

There are two purposes of this scheme - to encourage recruiters to employ more number of people and provide social security benefits to low-wage workers, especially those who earn less than Rs. 15,000 per month. In order to benefits under this scheme, the organization where an individual is working must be registered under the Employees Provident Fund Organization. To receive the benefits, they must have a UAN number activated which can be done using their Aadhaar card.

Any organization which is registered with the EPFO can enjoy the benefits under this scheme. To do that, they must have a Labour Identification Number (LIN) which acts as a reference for any communications that are made under the PMRPY scheme. The organization must also possess a valid PAN and bank account for processing the payments. They should also ensure that the PMRPY is filled up online before the 10th of the following month as otherwise a penalty is levied.

The concerned employees on the other hand should be earning less than Rs. 15000 per month to be eligible for this scheme. She/He must also have a valid Aadhaar linked Universal Account Number (UAN). In case they do not have it, then it is the responsibility of the employer that they facilitate the benefits using the Employees Provident Fund online portal. The date of joining of such employees should, however, be on or after 01.04.016.

Additional read: Everything You Need To Know About The Pradhan Mantri Rojgar Protsahan Yojana

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