Finance Minister Nirmala Sitharaman on Saturday, August 21 announced that the government will pay the employer and employee’s provident fund (PF) portion by 2022 for those who lost their jobs during the Corona period. Along with this, he also made it clear that after losing the job, only those called again for small scale jobs in the formal sector will be able to take advantage of this scheme. People working in EPFO registered company will also be included in this scheme.
Central govt will pay the PF share of the employer as well as the employee till 2022 for people who lost their job but again called back to work in small scale jobs in the formal sector whose units are registered in EPFO: Finance Minister Nirmala Sitharaman pic.twitter.com/9fDXzLdBSC
— ANI (@ANI) August 21, 2021
The Finance Minister also announced that if in any district, more than 25,000 migrant workers work in the informal sector and they return to their native places, they will get the benefit of 16 government schemes for employment. In 2020, the government increased the budget for the Mahatma Gandhi National Rural Employees Guarantee Act (MGNREGA) from ₹60,000 crore to nearly ₹1 lakh crore amid the COVID-19 pandemic.
Retirement body EPFO’s provisional payroll data released on Friday, August 20, highlighted a rising trend with 12.83 lakh net payroll additions during June 2021. He said that with the slowing down of the corona epidemic in June 2021, the situation has improved. According to EPFO, there has been a huge increase in payroll data as compared to April and May this year.